42 sats \ 3 replies \ @Satosora 19 Jun \ parent \ on: Eurozone facing acute debt crisis econ
I realize each place has its own difficulties, but the cant forever be chained to the north.
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20 sats \ 2 replies \ @TomK OP 19 Jun
the problem with the eurozone and the euro is that the much more competitive north has established a kind of neo-mercantilism here. with an artificially low valued currency and a labor market for cheap labor, the south has been played against the wall, especially in the industrial sector.
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42 sats \ 1 reply \ @Satosora 19 Jun
If the southern states have their own currency, even if it is worth less at least it wont be dependent of defaulting every few years.
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0 sats \ 0 replies \ @TomK OP 19 Jun
or do i have bad news. the monetary history of the southern european states in particular has been fatal to hopeless. so it went on as before, rather socialist governments would buy their votes with the money printer.
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