Commodity Trade Mantra

Posts Tagged ‘Internal Devaluation’

Conspiracy Theory: A Greek Default Is Precisely What The ECB Wants

From an economic perspective, Greece shows “internal devaluation,” – which is a very polite way of saying plunging wages, labor costs, and generally benefits, including pensions. Goldman essentially says that it is in the ECB’s & Europe’s, best interest to have a Greek default – and with limited contagion at that – one which finally does impact the EUR lower.

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