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First there was the Bretton Woods gold standard, ...

First there was the Salazar dictatorship (Franco dictatorship in Spain) which pampered its domestic industry and made it noncompetitive. These traditional structures together with an over reliance on real estate speculation is what's wrong with these economies.
by The European on Mon Mar 11th, 2013 at 08:26:05 AM EST
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Then why did France devalue serially, just as Portugal did?

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
by Migeru (migeru at eurotrib dot com) on Mon Mar 11th, 2013 at 08:29:12 AM EST
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