Comments by "gerhard7" (@gerhard7323) on "Something Terrible Happened to Italy Economy – Is UK heading same way?" video.

Germany was traditionally one of Italy's main competitors industrially speaking. The introduction of the single currency basically rendered Germany's industrial exports cheaper than they would have been under the DM and Italy's more expensive than they would have been under the Lira. Italy volunteered to become uncompetitive by joining the Euro and permanently surrendered the monetary levers with which it could previously adjust its course to the ECB in Berlin.
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Germany was traditionally one of Italy's main competitors industrially speaking. The introduction of the single currency basically rendered Germany's industrial exports cheaper than they would have been under the DM and Italy's more expensive than they would have been under the Lira. Italy volunteered to become uncompetitive by joining the Euro and permanently surrendered the monetary levers with which it could previously adjust its course to the ECB in Berlin.
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