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The design of the Euro is intentional. This is why countries have to adhere to some pretty strict fiscal requirements to join the Euro: specifically to avoid BS like the one happened in Greece. Well, Greece lied about their compliance with those requirements (Goldman helped, but hey...), but now it's somehow Euro's fault?...


The point is that Euro is dysfunctional because there is not a enough fiscal capacity implemented in the design. Some of us think that it's probably politically implausible to implement that capacity because the narrative of the 'lazy neighbor'.

Presumably some lands in Germany are deficitary (or states from the USA) why the population there don't experiment the same problems? Because they have a real union.

Currently the ECB is covertly financing countries of the European Union buying their debt in the secondary market [1]. This is against the agreements [2], but if it's not done will be the end of the Euro. How is not that a dysfunctional currency area?

[1] https://www.bloomberg.com/view/articles/2015-12-04/the-ecb-s...

[2] https://elpais.com/elpais/2012/10/24/inenglish/1351097206_05...




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