I heard on the radio today, that prices in Greece are being lowered. It is getting cheaper to be a tourist in Greece, which makes the streams of tourists turning back to Greece.
The person talkning about this said this was an "internal devaluation". This means that when Greece has the euro, hence no currency of its own to devaluate, it has to devaluate by other means. A devaluation means goods and service produced in Greece would turn cheaper for people from other countries, but a similar result is achieved by lowering the prices. This may save the Greek economy without it having to leave the common currency.
I guess this was one way in which the common currency was meant to work. I hope it will be a road towards a better economy in Greece.
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