But inside one country, with one money, there is an equalization of payments mechanism at work between regions. California is much richer than Ohio, and nobody

But inside one country, with one money, there is an equalization of payments mechanism at work between regions. California is much richer than Ohio, and nobody in the US bats an eye at the thought that California pays for roads in Ohio, that's just the way it should work. For Euro to work in the long term, Germany (or parts of it) and some other regions should finance heftily (8% of Germany GDP is an often quoted number) for development of Spain, Greece and other regions. But the problem is that EU is not a country. There is no European people with a deep feeling of solidarity to each other. Germans from Bavaria agree (reluctantly) to pay for Saxony, but they definitely won't pay for Portugal. There is no solution in sight, really.