Obviously, within the Euro the mechanism would have to be a bit different, but the principle is very useful - to create an incentive structure for balanced trade within the EU.
This does not solve all problems, but it would be a good start.
Exporters of last resort hold the levers of power in times of monetary crisis and don't feel like they have to change their ways at all. See US at Bretton Woods. By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
