"Restricts access to imports" is a really interesting way to put it - weakening a currency of course lowers imports and raises exports. Which can go a long way

"Restricts access to imports" is a really interesting way to put it - weakening a currency of course lowers imports and raises exports. Which can go a long way to fix a depressed economy. Of course bond investors knew the EU did not intend to pursue monetary policy that would allow distressed economies to adjust. US debt is not a magic special case. Take a look at Japan.