Europe benefits from weaker euro

The euro once again dipped below the 1.27 dollar mark on Thursday. But there are countries which profit from the devaluation of the euro, writes the liberal Swiss daily Corriere del Ticino: "The dizzying speed of the euro's devaluation is without doubt a negative factor, but if you take a closer look at the foreign exchange market these days you notice two things: We are still above the value the euro had against the dollar when it was first launched, and at the same time Eurozone exports are encountering fewer obstacles in the extensive dollar area which encompasses not just North America, but also many emerging economies. So it's a half crisis. And therefore precisely the solution that the German economic motor had desired for many reasons. ... As long as the euro doesn't fall below the initial rate it had against the dollar, the strong countries of the Eurozone, particularly Germany, have no real cause for worry. They will continue to benefit in terms of exports without suffering too much damage in terms of imports."

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