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Because competitiveness, in this sense, is a zero-sum game: If Greece is to become more competitive relative to Germany, Germany obviously has to become less competitive relative to Greece.

The idiocy is in assuming that this will make Germany less competitive relative to China, the US and (snicker, giggle) the UK. Dealing with that is the reason God gave us floating currencies.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Dec 9th, 2011 at 08:07:54 PM EST
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Right, but he used the words "less productive and competitive." I thought he was assuming that Germany would wind down or something.
by Upstate NY on Fri Dec 9th, 2011 at 09:29:27 PM EST
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