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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (22394)2/18/2005 11:42:41 AM
From: GUSTAVE JAEGER  Read Replies (2) of 81050
 
Re: So, Euroland has to decide -- either it prints, devalues the Euro and grows or doesn't print, keeps the Euro strong and stagnates, as at present?

But why would the devaluation of the euro entail "economic growth"? Would the EU suddenly be manufacturing cheap cell phones? plastic toys? flat computer screens? At best, a lot of call centers would be moved out of Morocco, Senegal, India,... and relocated in France, Germany, Italy,... but then the deflationary pressure would be catastrophic: rentals, consumer prices, real estate,... all would have to adjust to a workforce whose aggregate income has been trimmed down to that of a third-world developing country!!! Europeans would realize that... they're poor!? God forbid!
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