No it's not. Devaluation != wealth. Say an economy produces only 2 lemons per year and they cost 1 euro, say you devaluate and now the cost 1.5 euro... how much

No it's not. Devaluation != wealth. Say an economy produces only 2 lemons per year and they cost 1 euro, say you devaluate and now the cost 1.5 euro... how much wealth have you created? None, you are still producing only 2 lemons. The real problem in Europe is taxes, a very bad culture for entrepreneurship and, consequently, little to none venture capital. While we do have very competent people technically, we miss totally the business side of things. Italy is a great example of this, lots of stems, very poor business people and no to little venture capital. Then, when you do manage to actually produce something and sell it, you are killed pretty much from day 1 by taxes - more than half of your added value will go to the government.