4 ms·
> The Euro was a massive mistake. Economists can barely agree on how monetary supply works in a single country's economy, why not stitch a bunch of them togethe
by ebg13 7y ago
> The Euro was a massive mistake.
Economists can barely agree on how monetary supply works in a single country's economy, why not stitch a bunch of them together and see how it goes?
EU members are exactly like states in the USA. They each have their own independent economic interests, their own independent sets of laws governed by central overriding principles and legislation, and they share a currency.
So you may as well be saying that the US Dollar was a massive mistake.
- skrtskrt 7y agoSteve Keen is a good source on this: https://braveneweurope.com/steve-keen-the-delusional-leaders-of-the-eurozone https://braveneweurope.com/steve-keen-the-delusional-leaders... https://braveneweurope.com/steve-keen-the-euro-is-a-suicide-pact https://braveneweurope.com/steve-keen-the-euro-is-a-suicide-...
- ebg13 7y agoOk, how does Steve Keen feel about the USA reverting to pre-1792 colonial currencies?
- skrtskrt 7y agoUs States are not equal to European countries in any of the ways that matter here: they can’t have their own central banks or issue their own currencies, can’t decide general banking policies, can’t control trade in any meaningful way. A better analogy of US states to Europe is provinces of a country - their economic powers are extremely limited, and on the scale of macroeconomics, nearly meaningless.