Krækja á grein Irwin Stelzer á Wall Street Journal: The Euro Zone's Bumpy Road to Recovery - WSJ.com:
mánudagur, 28. febrúar 2011
The Euro Zone's Bumpy Road to Recovery - WSJ.com
"In the pre-euro era, they would devalue their currencies to make German goods dearer and their homemade stuff cheaper. That was then and this is now. No such mechanism is available to struggling Greece, Ireland, Portugal, Spain or Italy—they gave up the ability to revalue their currencies when they ditched them in favor of the euro." . . .
