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Old 24.10.2018, 10:24
greenmount greenmount is offline
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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I suspect if you join a currency union, as Italy did, you can't unilaterally decide you need to print a shit ton more currency - devaluing it for everyone else - without asking them.
They're ignoring all the conditions they had to meet prior to joining the common currency and also the fact that they have to stick to these conditions - e.g. budgetary deficit less than 3% if I'm not wrong. So a strong and stable currency got you out from your misery and now you want to go back and drag everyone along with you. Nice.

Anyway, a common currency makes sense only when everyone is committed and has a similar economic power. Not recommended for tier 2 or tier 3 states.
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