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In response to
"well problem is when you join the ECB you give away the ability to devaluate and noone ever considdered the alternatives"
by
DaneDukeNuuk
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One of the largest problems afflicting the EU is the so called northern core countries moralising to the rest of Europe what's best for their
Posted by
Loyola
Mar 18 '13, 14:33
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economies and that they have to take the so called pain when peripheral countries find themselves in trouble, when for years it has been the ludricrously low interest rates set by the ECB during times when peripheral countries were experiencing booms, and all done to suit the German and other similar economies in the north. Ireland and Spain were experiencing years of 8% growth and the ECB kept rates at 2% to help their Germanic friends.
Germany et al would do well to take the plank out from their own eyes before they try to take the speck out of their neighbours eye, and most of all before they decide to advocate stealing people's savings to correct a problem of their own making.
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