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You also need to improve German domestic demand, of course.

The point is that the wage differential between core and periphery, and the current account imbalance, is not going to go away unless you do all of these things.

Blowing the Eurozone apart would work too, of course, if and only if it is replaced by a floating exchange rate system.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa

by Migeru (migeru at eurotrib dot com) on Thu Aug 30th, 2012 at 02:53:18 AM EST
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