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Süddeutsche Zeitung - Alemania | Miércoles, 2. Enero 2008

Cyprus and Malta join the Eurozone

The extension of the Eurozone is particularly positive for the German economy, says Alexander Hagelüken. "In early boom phases, the Deutschmark was not linked to the dollar but rather to the French franc or Italian lira – and so export prices rose all around. Now, the strong home currency of Daimler and Co. has less of an inhibiting effect than before, because these days the firm sells half of its products without a markup to countries that pay in the same currency. This is a blessing for the time being. The recovery, endangered by financial crises and the bumpy US business cycle, is stabilised by the euro. ... But there's hardly anything in life that's free. The euro secures exports, but it also imports competition. ... In the monetary union, it's no longer enough to look toward the next elections. Politicians also have to keep an eye on the competition from euro-neighbours, lest they hurt their own constituents."

» de toda la revista de prensa del Miércoles, 2. Enero 2008

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