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> Left to float independently, the Deutschmark would not be as low as the Euro is today and the Lira would never be as high. But wasn't that the whole point?
by debacle 8y ago
> Left to float independently, the Deutschmark would not be as low as the Euro is today and the Lira would never be as high.
But wasn't that the whole point?
- presidente20 8y agoNo it wasn't. The point of the euro was mainly political - a step towards a single European state. Economically the benefits are reduced transaction costs and reduced currency risk between countries within the single market.