3 ms·
This is the main problem. Greece can't get out of the problem without printing money, devaluing currency, that result in cheaper export and increasing revenue t
by akg_67 11y ago
This is the main problem. Greece can't get out of the problem without printing money, devaluing currency, that result in cheaper export and increasing revenue through increased export and getting out of the trouble.
Euro experiment is showing that Monetary union without Fiscal union doesn't work. How do you reconcile Germany's need to keep Euro strong and Greece's need to make Euro weaker? Some sort of transfer payments need to be made from Germany and other economically stronger countries to countries in weaker situations such as Greece or this monetary union without fiscal union experiment is going to fail.