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I remember that when Sweden ultimately voted to not get the Euro, this scenario was one that was discussed. It was claimed something to the effect that never in
by lutorm 17y ago
I remember that when Sweden ultimately voted to not get the Euro, this scenario was one that was discussed. It was claimed something to the effect that never in history has a situation where a sovereign country has control over economic policy but not monetary policy worked for more than a decade or so.
- rdtsc 17y agoI always wondered, how come other countries didn't just unanimously vote to jump right in? EU just seemed to make a lot of sense. Well now I know why. Good for the Swedes. Another problem with EU is that it seems to lack a clear external policy. The E in the EU might as well stand for 'Economic' as in 'Economic Union', as politically these countries still have different & sometimes divergent interests (both externally and internally). Especially, as some members are also in NATO while other aren't. At the end of the day, it is not possible isolate the economy from politics and social issues. They are intertwined too tightly. It is like co-signing loans for the neighbors that you don't completely know that can go and spend as they please then you are stuck with paying for their extravagance.