Post
Topic
Board Economics
Re: An Economist Predicts The Downfall Of The Eurozone
by
LoyceV
on 15/05/2020, 14:26:13 UTC
Quote
The unfortunate fact is that the European common currency, euro, has been an ill-conceived project from the beginning. If the history of previous failed currency unions teaches us one thing, it’s that you never ever establish a common currency among countries with very different cultural and political backgrounds without a Federation. It’s unfathomable that we need to learn this lesson the hard way, again!
My bigger fear is they'll use this crisis to create said Federation. EU member states are currently all making their own plans, closing borders as they please, while EU is grasping to remain relevant.
Losing euro will be expensive, but it's probably for the best in the long term. Unless you work at ECB, then you'll do whatever it takes to keep your job rescue the euro.