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"The Euro is a strong and stable currency.
(Mircea, 8 January 2010 0:09)"
The problem is that the Greek economy is not strong and stable, and being locked into the euro deprives it of short-term measures that weak economies can take advantage of.
For example, Chavez on Friday cut the rate of the bolivar by 50%. This means that they immediately start receiving twice as many bolivars for every barrel of oil they sell, meaning more money to support popular spending measures, meaning better luck in upcoming elections.
Of course, this also will increase inflation (from its current 27%) and hinder local production.
The pros and cons of the devaluation are discussed here: http://online.wsj.com/article/SB126305109903923235.html?mod=WSJ_hpp_MIDDLTopStories
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