> A monetary union without a fiscal union doesn't really make sense [..] Economists in the EU must have understood this [..] They almost certainly did, there

> A monetary union without a fiscal union doesn't really make sense [..] Economists in the EU must have understood this [..] They almost certainly did, there are two other groups who may not have done - European politicians ... and European voters. Although it's more likely that politicians did understand it, but were reluctant to talk about, at least in front of the voters.