Posted on 11/26/2023 3:31:42 PM PST by davikkm
In the past quarter-century, the Euro’s trajectory has unveiled a stark absurdity, encapsulated vividly in one chart. Before adopting the Euro, the Italian Lira depreciated by a staggering 83% against the Deutsche Mark over 25 years. However, in the subsequent 25 years since the adoption of the Euro, these two currencies have been pegged together. The question looms large: What were politicians thinking when they merged the currencies of economically disparate nations like Italy and Germany?
The track record of the Euro tells a tale of unmet expectations. The Euro experiment, designed to foster economic unity, has fallen short. The pegging of vastly different economies has not yielded the anticipated benefits. Currency unions throughout history, when hinging solely on monetary policy, have invariably failed, and the Euro appears to be no exception.
(Excerpt) Read more at citizenwatchreport.com ...
This is a non article with one person’s opinion and not really supported by facts.
Draw your own conclusions - there’s not enough in this article to lead you to one.
We have been there before with the Brenton-Woods agreement to restart the world after WW II. It had a useful, but clearly limited life. The Euro was a political dilution from day one.
I remember when Italy was trying to join the EU, they were supposed to meet certain economic goals, mostly economic austerity goals.
They met none of them due to political unrest at the prospect of cut backs on government give sways.
And yet they were admitted to the EU.
I knew then that the EU would be a socialist failure like all of the previous attempts.
The Euro made it easier to devalue the currency instead of having to deal with separate nations’ currencies where the globalists would have had to instead work incredibly hard to devalue several at once.
Just wait until there is a global crypto-currency and cash is outlawed. That’s gonna be fun.
Bkmk
a real powehouse...
They only got one of those parts accomplished.
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