Here's an excellent run-down of the inherent flaws in the EU institutional arrangements. http://www.lrb.co.uk/v14/n19/wynne-godley/maastricht-and-all-that http

Here's an excellent run-down of the inherent flaws in the EU institutional arrangements. http://www.lrb.co.uk/v14/n19/wynne-godley/maastricht-and-all-that http://www.lrb.co.uk/v14/n19/wynne-godley/maastricht-and-all... tl;dr everyone can't be a net exporter at the same time