It’s more that the Euro has been a fiasco for Greece, Italy, Portugal and Spain... It’s fundamentally problematic to have a single exchange rate between countri

It’s more that the Euro has been a fiasco for Greece, Italy, Portugal and Spain... It’s fundamentally problematic to have a single exchange rate between countries with different inflation rates, balances of trade, etc. - because you can’t have an exchange rate that works for everyone and the value can’t move between the other economies to balance out the differences. The only way around that (apart from going to separate currencies with floating exchange rates) is to have some kind of fiscal balancing method. In the US, for example, federal taxing and spending tends to do this between the states. But that is probably politically impossible in the EU (redistribution from richer countries to poorer is pretty unpopular).