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Wait - so why are other countries like Germany in the EU fine despite also not being able to arbitrarily issue their own national fiat currency?
by intenex 6y ago
Wait - so why are other countries like Germany in the EU fine despite also not being able to arbitrarily issue their own national fiat currency?
- deleted 6y ago[deleted]
- RobertoG 6y agoThey are not. Germany is a net exporter, obviously not all the countries can be net exporter at the same time. You can't have a stable monetary union without a fiscal capacity. The inevitable debt crisis in the Euro-zone are stopped by the ECB buying debt in the secondary markets. The hypocrisy of the system is obvious to however takes the time to see how it works.