Study: Many Germans believe they are worse off in euro

[News Feed]

Almost half of German people believe that their country's economy would be in a better position today if it hadn't joined the euro, according to the findings of a survey commissioned by CNN.

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[redrumloa]

I think that is a given.

 

[JoBBo]

I will save everyone some time and just quote the only relevant part of this CNN article:

Other findings from the poll, which interviewed 1,429 adults in seven European countries earlier this month

On average, they polled 200 people per country. In other words, this poll is useless and not worth the the paper it was printed on due to a ridiculously small data set.

In addition to this, the poll found out that 47% of the few Germans they asked were in favor of the adoption of the Euro and 'only' 42% felt Germany may be in a better economic state if it had not joined the monetary union. The results of this poll do not exactly send a clear message so the title of the article is dubious.

I think that is a given.

Unlike the United States, the German economy is heavily dependent on exports. The value of the Deutschmark would have gone through the roof in the past decade, thereby dramatically increasing the costs of German goods and services in foreign countries, thus lowering foreign demand.

If you are a consumer who just wants to buy inexpensive low-quality Asian goods, you may appreciate an overvalued currency. If, however, you want a job at a factory that produces goods locally and sells them globally, a moderate currency value would be much more in your interest.

 

[robert l. bentham]

the euro is doomed... it is preordained...