“Look, nobody with a serious military (and who thus can avoid it) is going to let a bunch of foreigners control their money supply”
the Euro already exists to contradict your statement.
the Euro already exists to contradict your statement. It's already coming apart at the seams. The Yurps will be the ones who tried it and found out The Hard Way why a single currency across economies with different growth rates does nothing but cause trouble. If you really don't understand why this is so, and think that it's simply a "choice" politicians can make with no consequence, you need to get smarter about monetary economics. In Yurp it is today possible for the Yurpeen Central Bank to create the conditions where Germany experiences runaway inflation while Italy is suffering a deflation, all because they're both trying to work out of the same currency base. There's no way to keep the wheels on a thing like that. |