On Jul 16, 2015, at 8:26 AM, Doug Henwood <[email protected]> wrote:
> >> On Jul 16, 2015, at 8:20 AM, Marv Gandall <[email protected]> wrote: >> >> What if the Spanish or Italians or French decided they wanted to leave the >> eurozone? Their economies are far larger and more complex than is Greece’s. >> >> Is the suggestion here that all of the peoples in the eurozone are trapped >> in it because the technical problems of converting to a sovereign currency >> are intractable, or is there something special about the technological >> structure of Greek capitalism? > > Greece probably has more technical challenges than bigger, richer countries, > but still, the political problem is that to do all the preparations for exit > take a long time, which means that capital has plenty of time to leave the > country. Announcing a devaluation a year or more in advance is a guarantee > that your country will be asset-stripped. My reply to Louis on the same subject just posted here: http://lists.csbs.utah.edu/pipermail/marxism/2015-July/263546.html _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
