Not a big fan of how the history of the euro played out but I think I need to provide some nuance to your claims: Policy of the ECB has been as predictable as a

Not a big fan of how the history of the euro played out but I think I need to provide some nuance to your claims: Policy of the ECB has been as predictable as any other CB, European Govs have become much more fiscally prudent in the wake of the euro crisis (maybe too prudent). Eurozone debt to GDP levels stands at 91% (vs. 129% in the US). The "entire continent militarizing" will not meaningfully impact debt ratios (goal is to increase avg. military budgets from ~1.3% to 2% of annual GDP). The bigger question mark in Europe is potentially unsustainable expenses for social security and (related to this) a relative decline in the working age population (as everywhere else).