Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Also, after 3 to 5 years of depression the physical plant itself is degraded beyond repair (like a tissue starved of blood gets gangrenous or necrotic). Then there's no wage level that will restore competitiveness because the job is lost.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman
by Migeru (migeru at eurotrib dot com) on Sat Mar 17th, 2012 at 07:43:49 PM EST
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