"The government has made the grave error of devaluing without implementing a comprehensive plan to reduce inflation," says Luis Secco of Perspectiv@s, a consultancy.
In France, for example, if we were to return to the franc, all the bank accounts of every French person, all capital savings accounts, would be immediately re-labeled with this currency, which would be devalued without delay against the euro.
That's a choice: He chose to go into that church and harm those people". The agony pulsing through Charleston now is the same felt every time a black life is lost to the acts of bigots and brutality, every time a black life is violently dehumanized or devalued -- often without repercussion.
This prompted widespread criticism from China, Germany, and Brazil that the United States was using QE2 to try to devalue its currency without consideration to the effect the resulting capital inflows might have on emerging economies.
Without the ability to devalue, the restoration of competitiveness requires painful austerity measures and wage restraint.That leads to another potential flashpoint for 2011: the lack of global co-ordination.
Without the ability to devalue the currency or adapt monetary policy, redressing the imbalances must come through 'internal devaluation': bringing down real wages and prices relative to those of competitors.
Those countries survived drastic budget consolidation without devaluing their currencies.
This, in theory, helps boost the attractiveness of a product without devaluing it.
Somebody'll be able to tell us how to communicate that without devaluing the name".
Miliband said the Baltic states - Estonia, Latvia and Lithuania - had been made full members without devaluing the importance of membership.
