So i would hope to see more of that going forward. At the time of the formation of the euro, the threetier euro was considered but not adopted. And an unfortunate result of this has been the mediterranean countries so largely dependent on tourism has become they are really not competitive. Is it time to reconsider the threetier euro in that important affair would be a very substantial devaluation of the mediterranean countries, and that should result in job growth, Economic Growth simply from increased tourism . I think its fair to say that historically, i talk about latin america, and als also about the Asian Financial crisis, korea, as an example, indonesia also, is that one of the great age they had was the ability to devalue. And what do we have . We have euro at one of its strong points today, which is one of the reasons why im an advocate for the European Central bank to drop Interest Rates which i think will push the euro lower and help on exports. I think it always hangs out th
We have euro at one of its strong points today, which is one of the reasons why im an advocate for the European Central bank to drop Interest Rates which i think will push the euro lower and help on exports. I think it always hangs out there. Thats the biggest argument, like greece, should leave the euro. Because their currency is misaligned for a country like greece. I do not see that youre going to have a twotiered or three tiered system. I think if you really are going to have a new alignment, it will be some members will be there and others wont. And so i think what is important though, and more and more i think the politicians are raising this, policymakers also in brussels, the bureaucracy, you cannot just wipe it out with a story posterity did you got to plans for growth. That was just a message i took to portugal when i was there. In june last year. Because if you dont show that there is growth potential, and i should say portugal has increased substantially, but you need to ha
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