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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (543423)10/16/2013 7:18:25 AM
From: Bearcatbob  Read Replies (1) of 793964
 
Lindy, southern Europe needs to devalue their currency. Since it is the Euro they cannot. Therefore - their wages and other compensations need to decrease in the same ratio as would be achieved by devaluation. It is interesting - they seem to be fine with losing a percentage of their wealth via devaluation - but not simple equivalent cuts.
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