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.

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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