Anyway, if all countries start doing that sort of thing, nothing stops the periphery (and France) countries to do the same... but with a lower exchange rate! Then we'll get central banks printing and printing, ad libitum, with no limit.

In principle, yes. In practice, if two central banks commit to doing this at the same time, then they will fix the exchange rate instead.

- Jake

Friends come and go. Enemies accumulate.