if failing countries had remained outside the ourizone their currencies have fallen in value leading to expansions facilitated low interest that would be set by their central banks
If the failing countries had remained outside the eurozone, their currencies would have fallen in value, leading to export-led expansions facilitated by low interest rates that would be set by their central banks.
If failing countries had remained outside the eurozone, their currencies have fallen in value, leading to expansions facilitated low interest that would be set by their central banks.