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Just having a monetary union seperate from the EMU and having that union set interest rates and the availability of finance to the needs of the periphery and start some recycling mechanisms would enable members to devalue their currency WRT the EURO, reducing the burden of debt on their people and boosting employment while improving terms of trade.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Sun Aug 28th, 2016 at 01:54:17 PM EST
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