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Money is much more than currency–it stands for control, freedom and dreams.
Like currency, it gets its value from its use.
Indeed, by not devaluing its currency it helped to prevent a worsening of the financial contagion.
Brazil was on the verge of devaluing its currency — it took the plunge in January.
It's not just that China cheats (though it does) or that it manipulates its currency (it does that too).
If Greece still had its own currency, it could restore competitiveness through devaluation.
As long as Britain has its own currency, it has the power to print money.
Because Britain borrowed in its own currency, it had control over the unit of account.
(And of course if it had still had its own currency it would have seen that currency depreciate).
If Germany still had its own currency, it would no doubt be stronger than the euro is now.
Like any currency, it can be debased, and lose its value.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com