sapphi_snake said:
1. What's wrong with the Euro? 2. What? Europe is more liberal than the US. There are just limits to freedom of speech of course, which is only normal, else the result would be chaos. Don't see what other freedoms are restricted (and don't you say guns |
The Euro doesn't work. That's what's wrong with it. Currencies are highly delicate and need to fit the curves of an economy very well, if it doesn't all sorts of trouble unfolds. For example, France and Germany are highly industrialised countries, and, as such lower interest rates are far less dangerous, and pose greater benefit to these economies. The Euro, since its inception, has had very low interest rates.
The economies of Ireland, Portugal, Greece, etc are not as developed, and the low interest rates led to an economic boom ("The Celtic Tiger")... and a subsequent bust which has now put them in the current situtation. Their economies are are not suited for low interest rates.
Simply put... the countries require VERY different currencies.
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Sure, European countries may tend to be more "liberal" in some areas. But the USA is much more of a "make your own way" type place, in comparison to Europe's "get the Government involved" attitude. I think this is what Kasz meant by point 2.