Italy officially in recession. Germany teetering.

Haggis

CHB World Championship People's Champion
May 16, 2013
33,482
10,933
Ok legit question...anyone had a deep fried mars bar? They're the butt of many jokes but I've never had one. And I really want to try one. Cholesterol n all. :rofl

Are they really that good????
They are fucking gross. Immediately, you feel sick.

:hat
 
May 8, 2013
7,871
2,665
The Euro was set up to fail.

If the Italian economy is in trouble and the German economy is humming along, the common interest rate set by the European Central Bank (ECB) will be too high for Italy and too low for Germany. Thus, Italy’s economic troubles will persist, and the German economy will get even more of a boost. It is in the nature of the single currency that once member economies begin to diverge from one another, the common interest rate will cause the divergence to increase.
This basic flaw is pretty bad. The creators of the Euro and ECB must have assumed that all of the Eurozone economies would rise & fall together. They haven't, and that has been really bad for the weaker economies.

In 2000, a year after the euro was introduced, the US economy was only 13% larger than the eurozone; by 2016 it was 26% larger.
Other than a desire to use fiscal policy to drive greater political integration of the Eurozone nations, I cannot understand why the European politicians keep the Euro currency.
 
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Dazl1212

Ripley, strong independent woman who don't no man
May 16, 2013
19,293
5,710
UK
The Euro was set up to fail.



This basic flaw is pretty bad. The creators of the Euro and ECB must have assumed that all of the Eurozone economies would rise & fall together. They haven't, and that has been really bad for the weaker economies.



Other than a desire to use fiscal policy to drive greater political integration of the Eurozone nations, I cannot understand why the European politicians keep the Euro currency.
The EUs goal to my mind is to become a United States of Europe and a super power.