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.
Klaus Schwab: The Re-emergence Of Europe: Why Exiting The Euro Is A Bad Idea
Klaus Schwab, Huffington Post: Business
Sat, 01/19/2013 - 7:30am
Topics: cold war swiss switching unravelling argentina professor klaus schwab founder executive chairman world economic forum the re-emergence europe eurozone gdp in ing germany currency country economy devaluation debt bank current future years set account legal put percent fallacy crisis easy national real system rest quickly forced productive politics term year member foreign banks cost implications break-up
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