Kurt Ullman wrote in
:

In article ,
Han wrote:



We appear to live in
times where the easy way to combat deficits isn't feasible anymore,
due to the interrelatedness of the world's economies. That used to
be devaluation of one's currency, a much used tactic in the past.
When I was a teenager, the French franc had devalued so much that
"new" francs were issued, valued at 1:1000 I believe ...

Not really. It has been working OK for the US, at least so far.
The Euro is another kettle of fish since it is more than one sovereign
nation with more than one goal. Euro members really can't inflate
their way out of the problems... at least until Germany and/or France
run into stormy weather, then we'll see.
We'd be having the same problems as Europe is Mississippi was
trying to have a different monetary policy then California or Nevada.
It is really hard (and I am leaning personally toward impossible) to
have a situation where you have a single currency yet multiple
soverign nations with multiple monetary needs.

That's what the Europeans are finding out.

--
Best regards
Han
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