Currency deflation is in essence a kind of currency condition.

通货紧缩，从本质上说是一种货币现象。

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Currency deflation often goes along with economic recession with a worse influence than inflation.

通货紧缩往往伴随有经济衰退，其对经济的影响可能比通货膨胀更严重。

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Now that Greece and Germany share the same currency, however, the only way to reduce Greek relative costs is through some combination of German inflation and Greek deflation.

然而，现在希腊与德国拥有相同的货币，降低希腊相对成本的唯一途径是通过某种德国通货膨胀与希腊通货紧缩相结合的办法。

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Three months later, Kan is faced with the dilemma of trying to spur growth without pushing those debts even higher, with the added complications of a surging currency and continuing deflation.

FORBES: Japan's Economic Woes Pile Up

So why not then break free of the euro and have that deflation as a currency devaluation rather than an internal devaluation of wages?

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The price level can only be altered through a change in the value of money itself, and with the dollar at near all-time lows against gold and nearly every foreign currency, the presumption of deflation promoted by Sumner is laughable, and also sad.

FORBES: Scott Sumner, Gold, the Dollar, and Anti-intellectualism