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The EUs big problem is that they have a single currency covering many different countries with wildly different economies so it's very difficult (or impossible)
by harryh 12y ago
The EUs big problem is that they have a single currency covering many different countries with wildly different economies so it's very difficult (or impossible) to institute a monetary policy that is beneficial for all countries at the same time.
- nine_k 12y agoAren't the United States also a bunch of pretty diverse state-level economies? The US is more tightly integrated than the EU, but similarities are still strong (same currency, transparent borders, local governments + increasing federal oversight).
- harryh 12y agoSure, it can be a problem in the US as well. What's good for San Francisco might be different from what's good for a hollowed our rust belt city. But it's less of a problem in the US than in Europe. We at least have a common language. Culture differences are smaller. Tax and regulatory regimes don't vary as much. It's fundamentally easier to move from one city to another in the US than it is in Europe. This isn't just a hypothesis, it's supported by very clear data in labor mobility rates.
- wyager 12y ago>The EUs big problem is that they have a single currency covering many different countries with wildly different economies And the U.S. has a single currency covering many different states with wildly different economies.