The point is that Euro is dysfunctional because there is not a enough fiscal capacity implemented in the design. Some of us think that it's probably politically

The point is that Euro is dysfunctional because there is not a enough fiscal capacity implemented in the design. Some of us think that it's probably politically implausible to implement that capacity because the narrative of the 'lazy neighbor'. Presumably some lands in Germany are deficitary (or states from the USA) why the population there don't experiment the same problems? Because they have a real union. Currently the ECB is covertly financing countries of the European Union buying their debt in the secondary market [1]. This is against the agreements [2], but if it's not done will be the end of the Euro. How is not that a dysfunctional currency area? [1] https://www.bloomberg.com/view/articles/2015-12-04/the-ecb-s-new-policy-sets-a-dangerous-precedent https://www.bloomberg.com/view/articles/2015-12-04/the-ecb-s... [2] https://elpais.com/elpais/2012/10/24/inenglish/1351097206_055104.html https://elpais.com/elpais/2012/10/24/inenglish/1351097206_05...