4 ms·

I don't know about the rest of the eurozone, but as a Spaniard I must say that I do think we would have been better off without the euro. The euro gave us the

by kilburn 11y ago

I don't know about the rest of the eurozone, but as a Spaniard I must say that I do think we would have been better off without the euro. The euro gave us the gun to shoot ourselves in the foot, and we have done plenty of stupid things with it. A few examples: - Huge inflation. In a very short timespan (two years maybe?), we went from 1€ = 166pts to 1€ = 100pts in purchasing power value, without an equivalent salary raise. - Crazy housing bubble, with an ~100% rise in house prices between 2002 and 2008 (!!) - Over-indebtment to pay for stupid things: airports in the middle of nowhere, high-speed trains to unpopulated areas, etc. - Destruction of several industries (e.g.: a huge clothing industry) I could go on but I think this illustrates my point. Again, I'm not saying that this is anyone else's fault. This is what we spaniards deserve because that's what we chose to do with the possibilities the euro gave us. Nevertheless, it doesn't change the fact that we could not have done all these things without it. Edit: format.

verinus 11y ago
and i think that spain is responsible for that and not the euro. if you had your own currency inflation would have increased the prices of all imported goods and thus diminishing the purchasing power...i can remember when italy hat its lira and every trip one got more ond more lira in exchange for our schilling (austria).
touristtam 11y ago
For the inflation from day one, that is the same story for every country in the Euro zone that had a weaker currency than the Deutch Mark. The French baguette went from 1.20 French Francs (about 20 Euro cents give or take at the time) to 1 to 2 Euros depending on the Bakery. That's 500% inflation at best on something that is basically the bread and butter of French diet (pun intended). The Euro zone should have a unified taxation system to ensure a fair competition throughout the zone.

by kilburn 11y ago

verinus 11y ago

and i think that spain is responsible for that and not the euro. if you had your own currency inflation would have increased the prices of all imported goods and thus diminishing the purchasing power...i can remember when italy hat its lira and every trip one got more ond more lira in exchange for our schilling (austria).

touristtam 11y ago

For the inflation from day one, that is the same story for every country in the Euro zone that had a weaker currency than the Deutch Mark. The French baguette went from 1.20 French Francs (about 20 Euro cents give or take at the time) to 1 to 2 Euros depending on the Bakery. That's 500% inflation at best on something that is basically the bread and butter of French diet (pun intended). The Euro zone should have a unified taxation system to ensure a fair competition throughout the zone.