2 ms·
The single currency was an enormous boon to surplus countries (i.e. net exporters) and an enormous detriment to deficit countries. Couple to that the atrocious,
by andrepd 4y ago
The single currency was an enormous boon to surplus countries (i.e. net exporters) and an enormous detriment to deficit countries. Couple to that the atrocious, almost criminal handling of the Eurozone crisis.
- jacquesm 4y agoNonsense. The countries that are in line for this will peg their currency to the euro just like NL did before the euro with the German Mark. If anything the local population that does not yet have the euro for everything is being scalped by their banks: debts are in euros but income is in the much weaker local currency. Most of them can't wait to switch but the access criteria are still fairly strict. Yes, the exporters also have a benefit: mostly because of the enlargement of the single market. But this is still within Europe, the comparison should be with the countries outside of Europe and then suddenly being part of a larger trade bloc with a single currency is a huge advantage.