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Bank resolution Is the solution for failed banks. Lack of inflation has been THE problem as it has made debt burdens and imbalances even more unsustainable.  A 2% devaluation s a mere blip.  Yes if it becomes 5 or 10% on a sustained basis it will have an impact - Mostly by reviving the Euro economy  and helping the ECB to reach its inflation target quicker.  Increases in interest rates are still a long way off, and won't be a broblem so long as they remain the rate of inflation.  All in all, a struggling Portuguese economy should welcome a Euro devaluation- even if it drives oil prices higher -itself not a bad thing in the long run.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Jun 29th, 2015 at 03:40:44 AM EST
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