[pmontra]

They would start printing their own currency. Impossible to keep having the same currency at the same exchange rate if you leave. It's going to end up like Argentina when they wanted to keep a fixed rate with the USD. To be seen who's going to be Argentina and who the USA in that case.

By the way, this is the very problem with the Euro. If you want to have the same currency of (let's say) Germany, you should perform like Germany, or better. If you are less efficient, in any way, you're going the way of Argentina, even if not as quickly. This is why the EU should have one real central government, maybe USA style, and local governments should be like the governments of the US states.

[sverige]

> This is why the EU should have one real central government, maybe USA style, and local governments should be like the governments of the US states.

OK, where's the central government going to sit? In Belgium? No, I don't the Germans or the French would tolerate that if they have to give up their power to act as nations and have their PMs demoted to the role of state governors. None of the member countries would either.

And who among them thinks anything like a Jefferson or a Hamilton? And which portion of the citizenry would even buy into such a debate?

And then there are all the language and cultural differences - actually still a problem for the EU.

Next thing you know, we'd have yet another war in Europe.

[pmontra]

Agreed. We shoUld but we won't for a long while. We're not a nation even if it would be safer if we were. But see how young people vastly voted against Brexit. This referendum wouldn't have won in 2026 and there is hope for becoming one nation. 100 years?

[craigyk]

Underlying a lot of this is the fact that not everyone can perform like Germany, because, by definition, not everyone can be a net exporter. Germany has benefitted greatly from the Euro to get to its position as a net exporter.

[Qantourisc]

"USA style" not without actual democracy, or you are going to see A LOT more EU-exits ! For example if TTIP imports ridiculous patent rules, I'm voting leave too. Right now the EU is sane, but I draw the line at stupidity.