Since the financial crisis the US economy has kept on trucking, while the EU has stagnated. This isn’t all because of the euro, but it’s definitely a disaster and I think it is reasonable to hold the euro at least partially responsible.
Take a long term view the US has done a lot better in the period it has had a common currency than the EU has done in the period it has had a common currency.
Even in recent decades the US has done much better economically than the EU.
Because the US is structured in a way that makes a common currency workable. It has direct federal taxes, and a very large federal budget. The EU budget is a tiny fraction of total EU public spending.
There is a huge difference between EU states and US states.
grecy|1 year ago
I wouldn’t hold them up as a shining example of “good” or “we should do the same”.
graemep|1 year ago
Even in recent decades the US has done much better economically than the EU.
mmooss|1 year ago
graemep|1 year ago
The Euro crisis was a disaster for multiple countries.
izacus|1 year ago
graemep|1 year ago
There is a huge difference between EU states and US states.