Apr 13, 2012

Eurozone's Periphery: The Euro Would Have To Fall To Parity With The US Dollar To Restore Competitiveness

While über-competitive Germany can withstand a euro at – or even stronger than – $1.30, for the eurozone's periphery, where unit labor costs rose 30-40 percent during the last decade, the value of the exchange rate would have to fall to parity with the US dollar to restore competitiveness and external balance. - in The Guardian Blog

Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.