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The euro is making a loser out of Germany - here's why

For the average German, the introduction of the common currency has led to a long period of sub-par growth, high unemployment and wage stagnation.

The introduction of the euro brought to Germany high interest rates, recession, unemployment, lower wages and a fall in tax receipts which led to the government cutting back on domestic expenditure.

IT IS widely assumed that Germany is the main beneficiary of the introduction of the euro 15 years ago. I beg to differ. The main loser of the introduction of the euro is the average German.

The only winner in Germany is the small group of owners of export-oriented companies. Shareholders...

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