The smaller the economy and more flexible are relative prices, the smaller the disadvantages of an external currency Dollar/Euro. The worse the monetary/fiscal policy the greater the advantages. It looks like Ecuador made the right decision for their circumstances. Greece, not so sure.
The smaller the economy and more flexible are relative prices, the smaller the disadvantages of an external currency Dollar/Euro. The worse the monetary/fiscal policy the greater the advantages. It looks like Ecuador made the right decision for their circumstances. Greece, not so sure.