Good ideas and conversation. No ads, no tracking. Login or Take a Tour!
b_b · 4650 days ago · link · · parent · post: The European Clown Car Economy (Walter Russel Mead's blog)
The problem is completely embodied in the above quote; I was going to use that line when I read the piece until I noticed you already had. They have a monetary union with no political union. A monetary union doesn't make any sense when each country has its own interests, rules, policies and, of course, culture, which whether we like to admit or not, binds people together. It would be painful, but maybe the Euro should collapse. Otherwise, Germany is going to be a grudging nanny for the foreseeable future.