Dear Log,
An interesting scenario to consider:
«...not widely mentioned, as Garçin points out, was the safety-net provided by the euro. "Imagine what would have happened if we had still had the franc - it would have gone into freefall. Imagine what would happen in your country to the pound if you had our election results. The euro has saved us."»
Re:OTOH
darobin on 2002-05-06T12:59:53
Then the relationship Europe-World declines economically but 1) that's less likely to happen because monetary Europe has a very high stability, and 2) it has nowhere near as much effect as the franc alone being devaluated as the vast majority of commercial exchanges happen within EU borders.
