well yeah, but the sovereignty argument was always part of the deal. it's not like it was sprung upon member nations that they suddenly had to accept a common c

well yeah, but the sovereignty argument was always part of the deal. it's not like it was sprung upon member nations that they suddenly had to accept a common currency out of nowhere. FWIW US states are prevented from having parallel currencies as well; that's also loss of autonomy. it's not necessarily horrible, just a different set of rules. you are correct in that it makes monetary policy impossible to control from the "outside". obviously that's not a great outcome for various economies in the EU, including the ones you have listed.