Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Devaluation means lower wages and lower profits denominated in a hard currency.
I've lived through two major devaluations. The effect on the ostensible quality of life was negligible. This time it is worse than war.

The road of excess leads to the palace of wisdom - William Blake
by talos (mihalis at gmail dot com) on Mon Feb 20th, 2012 at 01:44:58 PM EST
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