An expat's view: politics, economics and life in Italy, Britain and other places.
02 July, 2012
Those who are concerned that a country leaving the eurozone would face massive devaluation and subsequent implosion should remember Thailand.
The Asian financial crisis began 15 years ago today, and the Thai Baht rapidly lost half its value. Thailand started to grow again within a year and despite world slowdowns has grown at around 5% since then, doubling the size of its economy since the crash. It is predicted to grow at 5.5% this year and 7.5% next.