Well alot of problems that the EU has had have been related on countries having fiscal control but not monetary control. http://www.investopedia.com/ask/answer

Well alot of problems that the EU has had have been related on countries having fiscal control but not monetary control. http://www.investopedia.com/ask/answers/100314/whats-difference-between-monetary-policy-and-fiscal-policy.asp http://www.investopedia.com/ask/answers/100314/whats-differe... Before the EU and a central currency a country like Greece would print money to deflate its debts, this would cause the currency fall in relation to its neighbors, which makes it cheap to visit Greece, which stimulates the economy and the economy inflates until its time to repeat. With the Euro currency this option is off the table for Greece. I'm not sure how they solve this unless they move to a model more like Canada where the Federal government controls the majority major monetary decisions and lets individual provinces(EU countries) decide how to spend the money that the main government gives it, thereby limiting the local governments(EU Countries) ability to go into debt and preventing a situation like the absurd spending that went on in Greece.