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I have always felt it was a mistake allowing countries inside the EU but not the currency. But when one looks at the dates - and they are 6 years apart - it bec
by crossroadsguy 1y ago
I have always felt it was a mistake allowing countries inside the EU but not the currency. But when one looks at the dates - and they are 6 years apart - it becomes clear why. I wonder how it would have turned out had Euro and EU been launched together. Would it have been "a package" or optional?
- jochem9 1y agoAll EU countries are required to join the euro. This was agreed in the 1992 Maastricht treaty when the EU was founded (and the EMU, which was the starting point of the euro). Only Denmark and the UK negotiated an opt-out at the time. Only problem is that there are no deadlines and it's up to the country to make a plan for adopting the euro.
- ingohelpinger 1y agothe same treaty says state financing through the ECB is illegal, but they do it anyway.
- epolanski 1y agoThey don't? All EU emitted debt goes towards specific projects.
- ingohelpinger 1y agowhat? the ECB is buying state bonds. maybe thats the reason the ECB is its own state, no authorities allowed to enter the building. wondering how they will audit the ECB. ahh right, they wont. :)
- riffraff 1y agoAre you sure it's in Maastricht? I think the automatic requirements met -> has to join were added in the Lisbon treaty, Maastricht just established the requirements but didn't force joining, which is why some older eu countries which would meet them haven't joined yet.