Because the value of the euro is determined by factors that affect the entire euro zone,during the recession of 2007-2009,individual countries using the euro

Question

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When countries use a common currency like the euro, they cannot individually devalue their currency to make their exports cheaper and more competitive. This means that during the recession, countries using the euro were unable to have their exchange rates depreciate, which could have helped with their economic recovery.

Because the Value of the Euro Is Determined by Factors