It would have been very nice to devaluate the "Spanish Euro", but we cannot for the moment. Even though some people think they will use our country as an excuse to lower EURUSD at a certain point, it's going to be difficult in any case. If we leave the Euro, the consecuences to the credibility of our European currency could be devastating.
3 mayor countries have effectively devaluated their currency: China (it has always been), US and UK. The economic situation is that awful everyone is taking care of themselves and using their best weapons.
We are worried about our first world, but the future is neither in Europe nor in North America. It's in Asia. We know that, but we must start doing something about it and switch our investment to this part of the world.
10/10/2009
