Alternatively, nation-states could have retained their currency and focused on enacting policies that reduced friction of trade, i.e. a single currency is compl

Alternatively, nation-states could have retained their currency and focused on enacting policies that reduced friction of trade, i.e. a single currency is completely unnecessary to do this. There is no reason why a third-world economy should be joined with a first-world economy under a single currency: the outstanding result is that the currency hurts and ultimately the stronger economy props up the weaker a la Germany and Greece.