that italy has not lost one quarter of its industrial capacity since 2008?
http://www.isigrowth.eu/wp-content/u...per_2016_2.pdf
euro-membership takes away the old policy prescription of inflating away structural productivity problems, but if the country has no interest in structural reforms it might as well have inflation as a tool in its toolbox.
or that a 'german' euro isn't 17% undervalued against the dollar in PPP terms?
http://www.businessinsider.com/r-eur...rs-2017-2?IR=T
which in opposite balance leaves countries like italy with an overvalued currency relative to the position of its economic performance.
again, not germany's fault that it introduced the hartz IV reforms in the noughties, which have suppressed the spending power of the german worker an so their appetite for goods which will include imports from neighbouring eu nations, but... you could always transfer wealth;
or that the eu has been incapable of creating the transfer union necessary to make a common currency area a success, by ensuring less competitive areas are not left behind?
Last edited by Furunculus; 04-16-2017 at 11:14.
Furunculus Maneuver: Adopt a highly logical position on a controversial subject where you cannot disagree with the merits of the proposal, only disagree with an opinion based on fundamental values. - Beskar
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