The risk is that those countries that suffer from the switch retaliate and depreciate their own currencies. That could easily trigger a return to the much-feared competitive depreciations that contributed to the Great Depression.
这其中的风险是，在转化过程中蒙受损失的那些国家最终还是要以货币贬值为代价。这样就会容易引发一场由货币竞相贬值而向大萧条时代的回归，这是最让人担惊受怕的。