- Dec 16, 2006
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It is laughable to suggest that Britain would bring down the Euro, no matter how much you hate Britain, surely you can't actually believe that. The 7th largest economy in the world, the 8th largest manufacturer in the world? Rather it was the low manufacturing, high service based economies which have required bailing out. The Euro did them no favours whatsoever
True, I believed the basic frame the media gave of the Euro having a value due to all the currencies invested in it so I was thinking along the wrong lines entirely.
A common criticism I understand of the Euro is that the basic problem is not the initial value but that the value is fixed and one country can not devalue their currency to correct a cash imbalance with another EU country because they are both have the same currency. I guess they'll have to correct that problem in another way.
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