Real-World Economics Review Blog

from Merijn Knibbe

After 2008 Poland and Romania devaluated their currency. Other countries tried ‘internal devaluation’ (Spain, Portugal, Greece, Ireland, The Baltic states). Are there any differences when it comes to unemployment (source: the new Eurostat data which revised unemployment in august with +0,1% and showed an additional 0,1% rise in september)? According to me, the evidence is at least suggestive. By the way – unemployment in Greece and Spain might soon reach 30 and maybe even 35%. Is the Euro going to survive this?


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