Will Currency Devaluation Fix the Eurozone? - Frank Shostak - Mises Daily

Will Currency Devaluation Fix the Eurozone? - Frank Shostak - Mises Daily: 'The so-called improved competitiveness resulting from currency depreciation in fact amounts to economic impoverishment. The "improved competitiveness" means that the citizens of a country are now getting fewer real imports for a given amount of real exports. While the country is getting rich in terms of foreign currency, it is getting poor in terms of real wealth — i.e., in terms of the goods and services required for maintaining people's lives and well-being.'