"Jeremy Siegel ....argues that the answer is devaluation of the euro as a whole.
Um, against whom?
"... it’s not as if America or Japan are towers of economic strength, easily able to provide the demand Europe lacks."
but pk is it all just about effective demand
" I ,,,have been pushing for years for an end to Chinese currency manipulation"
but ....
" China is at this point .. not looking very strong itself ..."
meaning ?
"... just not that big in the world economy — not yet."
what ?
this reads like notes toward a policy that isn't worth a shit
unless it takes all the trading currencies into the program
the euro devaluing against the oilers could lead to increased exports ..no?
and the chinese forex lids a bunch of its competitors forex
a strategic shift towards purchasing bpower parity frorex by the zone might lead to a rise in intra zone productive investment ...in the middle term
ie this is really not about macronautic stablization and recovery
but about longer run growth and development prospects
"More generally, Europe as a whole, like America, remains a relatively closed economy. Its salvation must be mainly internal."
the zone is not equal to europe
the other market member state forex policy feeeds off the over valued euro
