News for hackers. Stuff that matters.

A comment on What really caused the eurozone crisis?. Parent comment

Re:What really caused the eurozone crisis? by Maro on Thursday December 22, 2011 @11:03AM (#3381923)
The infographic says regarding Spain and Italy: "Their exports are uncompetitive".

Maybe the thinking is that stuff exported by Spain and Italy is on average crappier than stuff exported by Germany, so it should cost less to manufacture, ie. lower wages?

[ Parent | on HN ]
Re:What really caused the eurozone crisis? by jc79 on Thursday December 22, 2011 @12:59PM (#3382533)
I can tell that the minimum wage in Portugal is around 485 Euros (and there is a very significant portion of the population earning just that), so it's not fair to say the wages are 'even' with Germany.

It is really a matter of what you invest on and export: and with few exceptions, the choices made here were not brilliant...

[ Parent | on HN ]
Re:What really caused the eurozone crisis? by Maro on Thursday December 22, 2011 @01:34PM (#3382653)
Here in Hungary it's around €300.

Btw. there's a Google feature for this:

http://tinyurl.com/7xlfah2

[ Parent | on HN ]