Today the last bales fall. Lorenzo Bini Smaghi was forced to confess the truth: an excessively strong euro will undermine the recovery in the euro. He too, an economist accustomed to lying by trade, was forced to admit that, alas, prices matter. Prices drive supply and demand, they are the ones that define economic choices, so when the euro has removed an important element of price flexibility, that is the possibility of devaluing or re-evaluating the exchange rate, but these "Economists for each season "For years they have told that other important elements were, such as, for example," modernity "," efficiency ", being Nordic, etc.
Now they too realize that, with one euro above $ 1.2, perhaps there will be no growth. Then the change is important, then the change has a value, then it would be better to have our flexible change …
Here, finish the speech.
We thank Inreverent.
The BAGNAI article . THE LAST BALL OF THE EURO FORTE THAT PROTECTS US FALLS comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/bagnai-cade-lultima-balla-delleuro-forte-che-ci-protegge/ on Wed, 16 Sep 2020 06:00:04 +0000.