A report by Capital Economics said that it would be beneficial for both weaker and stronger members because it would bring about the necessary rebalancing of the region's economy. The research consultancy said that since the eurozone began, weaker states such as Portugal, Italy, Ireland, Greece and Spain have been hit by higher cost and price rises than countries like Germany, undermining their ability to compete. Capital Economics said that if Portugal, Italy, Ireland, Greece and Spain left the eurozone, their currencies would depreciate, wiping out much of their lack of competitiveness and enabling growth of exports.
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