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> disaster By your theory, and by the endless claims of the anti-EU crowd, but it hasn't been. People use euros with no problem, every day, for transactions la

by mmooss 2y ago

> disaster By your theory, and by the endless claims of the anti-EU crowd, but it hasn't been. People use euros with no problem, every day, for transactions large and small. It's a major international currency, maybe second only to the dollar.

pembrook 2y ago
You’ve offered zero counter points to OPs claims though. Every time I travel abroad, I transact in local currencies for transactions large and small all over the world using real-time currency exchange rates via the magic of the Visa/Mastercard network. If that was the core thing the Euro was supposed to solve, the better solution today is just an EU wide digital payments standard. The point still stands, a common currency without the ultimate unification part is just disadvantageous for most.
- mmooss 2y ago
  The overwhelming counterpoint that I'm making is that it's not a disaster and hasn't been one, now for 25 years. It's been an overwhelming success by any measure. Where's the evidence of disaster?
  - ethanpailes 2y ago
    Since the financial crisis the US economy has kept on trucking, while the EU has stagnated. This isn’t all because of the euro, but it’s definitely a disaster and I think it is reasonable to hold the euro at least partially responsible.
    - mmooss 2y ago
      The EU economy is a disaster? Unless we redefine 'economic disaster' to meaninglessness, I think you don't have ground to stand on.
      - graemep 2y ago
        Being the slowest growing major economy is hardly success. The Euro crisis was a disaster for multiple countries.
        mmooss 2y ago
        'Slowest growing' is hardly disaster! 2008 was pretty bad for a few countries.
    - grecy 2y ago
      The US has much higher debt than any point in history, which is climbing rapidly, and are manipulating things as much as possible. I wouldn’t hold them up as a shining example of “good” or “we should do the same”.
      - graemep 2y ago
        Take a long term view the US has done a lot better in the period it has had a common currency than the EU has done in the period it has had a common currency. Even in recent decades the US has done much better economically than the EU.
    - izacus 2y ago
      Why are you comparing EU against an economy that also has a common currency that cannot be manipulated by member states?
      - graemep 2y ago
        Because the US is structured in a way that makes a common currency workable. It has direct federal taxes, and a very large federal budget. The EU budget is a tiny fraction of total EU public spending. There is a huge difference between EU states and US states.
graemep 2y ago
> People use euros with no problem, every day, for transactions large and small. It's a major international currency, maybe second only to the dollar. You are missing the point. The problem is not that transactions work, the problems are with interest rates and government borrowing.

by mmooss 2y ago

pembrook 2y ago

You’ve offered zero counter points to OPs claims though. Every time I travel abroad, I transact in local currencies for transactions large and small all over the world using real-time currency exchange rates via the magic of the Visa/Mastercard network. If that was the core thing the Euro was supposed to solve, the better solution today is just an EU wide digital payments standard. The point still stands, a common currency without the ultimate unification part is just disadvantageous for most.

mmooss 2y ago
The overwhelming counterpoint that I'm making is that it's not a disaster and hasn't been one, now for 25 years. It's been an overwhelming success by any measure. Where's the evidence of disaster?
- ethanpailes 2y ago
  Since the financial crisis the US economy has kept on trucking, while the EU has stagnated. This isn’t all because of the euro, but it’s definitely a disaster and I think it is reasonable to hold the euro at least partially responsible.
  - mmooss 2y ago
    The EU economy is a disaster? Unless we redefine 'economic disaster' to meaninglessness, I think you don't have ground to stand on.
    - graemep 2y ago
      Being the slowest growing major economy is hardly success. The Euro crisis was a disaster for multiple countries.
      - mmooss 2y ago
        'Slowest growing' is hardly disaster! 2008 was pretty bad for a few countries.
  - grecy 2y ago
    The US has much higher debt than any point in history, which is climbing rapidly, and are manipulating things as much as possible. I wouldn’t hold them up as a shining example of “good” or “we should do the same”.
    - graemep 2y ago
      Take a long term view the US has done a lot better in the period it has had a common currency than the EU has done in the period it has had a common currency. Even in recent decades the US has done much better economically than the EU.
  - izacus 2y ago
    Why are you comparing EU against an economy that also has a common currency that cannot be manipulated by member states?
    - graemep 2y ago
      Because the US is structured in a way that makes a common currency workable. It has direct federal taxes, and a very large federal budget. The EU budget is a tiny fraction of total EU public spending. There is a huge difference between EU states and US states.

graemep 2y ago

> People use euros with no problem, every day, for transactions large and small. It's a major international currency, maybe second only to the dollar. You are missing the point. The problem is not that transactions work, the problems are with interest rates and government borrowing.