Comment on Klaus Schwab: The Re-emergence of Europe: Why Exiting the Euro Is a Bad Idea

Klaus Schwab: The Re-emergence of Europe: Why Exiting the Euro Is a Bad Idea

At the height of Europe's debt and banking crisis it seemed temptingly easy to simply jettison the euro altogether and opt for national devaluation. Sometimes, if a country's currency is overvalued in real terms and it looks like the current account is going to be in deficit for the foreseeable future, devaluation can make sense.

 

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