| kowenicki said: Becuase we didnt fall for the nonsense spewed by french and german politicians and germany. The single currency was about making german exports cheap for the rest of Europe... nothing more. Never ever ever was a single currency going to work across multiple disperate markets. |
Exactly.
A currency is supposed to reflects a country's economy. Greece, Spain and Ireland are not in the same league as Germany in terms of industry so this kind of problem was innevitable, these countries need to devalue their currency to be even slightly competitive.
On the other hand, these weak economies are helping the euro maintain a low excange rate in order for the German exports to keep from being overvalued and becoming more expensive.
All the benifits of a strong industry, with non of the drawbacks of am expensive currency. That's why everyone hates Germany today
Germany benefits from exports within the European Union more than any other country
