> That seems like a very strange remark. First, macroeconomics va. microeconomics is not about large and small, but about the whole vs. parts of it. And that in

> That seems like a very strange remark. First, macroeconomics va. microeconomics is not about large and small, but about the whole vs. parts of it. And that indeed makes a huge difference. To expand on that: A sovereign nation state has the power to tax, to legislate, and to regulate trade with other nations; outside the Eurozone, to issue its own currency. Households and businesses can do none of the above, but are subject to the decisions that their governments make on their behalf.