[rhaway84773]

True, but every system has flaws. For the most part the Euro and ECB has been a benefit for every country in it.

Even a country like Greece. As bad as the single currency was for Greece, outside the EU and Eurozone, Greece could very likely have been closer to Venezuela with even fewer resource wealth to benefit from.

[yyyk]

>True, but every system has flaws. For the most part the Euro and ECB has been a benefit for every country in it.

Except Italy alas.

[mantas]

Was it really a benefit? The only benefit is belief that Germany won't let euro fail and will bailout anybody no matter how shitty situation is. On the other side, this prevents fixing root causes. Why fix anything and make people angry if you can ride the wave, hope for the best and in worst case someone will bail you out?

That's why we have this massive inflation. No real value is created, yet everybody is flush with the money. Pandemic was just a perfect excuse for BS that is brewing since at least 08 crisis.

[ChuckNorris89]

>That's why we have this massive inflation. No real value is created, yet everybody is flush with the money.

Indeed. Most of EU's economic growth since the 2008 crash was just printing money and propping up assets. A bunch of wealthy boomers buying expensive houses from one another does not mean actual economic prosperity.

We just printed our way into prosperity but Covid supply chain disruptions, the energy shortage, and the Ukraine conflict exposed the EU emperor had no clothes.

[mantas]

And lots of money poured into various „EU-funded“ (= money pulled out of thin air) programmes. All sorts Bs training that creates no wealth. Sure, topics may read nice on paper. But does it create any value? All while basic economy is going down the drain.

Who cares if everybody and his or her dog can discuss emotional intelligence, yet we end up relying on China more and more? Both to import crucial stuff and export crappy extravaganza nobody else is buying.

The green whatever plan is great example. Let's fuck over our farmers and kick out remaining manufacturing. Just to pretend we're soooo environment-friendly. And then import fuckton of stuff from far away. Thankfully there will be CO2 import tax. But CO2 regulations is not the only thing curbing local economies while faking low CO2 reports in far away countries may be a lucrative industry...

[sottol]

What's the alternative? Brexit for everyone?

[c00lio]

Maybe not outright exiting the EU. But maybe exiting the Eurozone and removing some other problematic economic straightjackets like overly large tax-financed subsidies.

[mantas]

Or at least several different eurozones. Germany and Italy or Spain are rather different economies to say the least.

[sottol]

Imo that would leave Italy and Spain and their respective union members in the dust competing against the US, China and India.

But maybe that's worth it, or maybe the Brexit will turn out great like pg said due to them not having stringent EU-type regulations on things like AI and banking (though if you're a founder leaving the EU i don't see why you'd go to the UK over the US or Canada).

[mytailorisrich]

Greece's problem is internal, not external. Endemic bad management that used to be dealt with by devaluing the currency. With the euro there is nowhere to hide but at least that indeed prevents runaway devaluation.

[johngladtj]

Other way around. The euro has been a net loss for all but 2 countries

[epups]

Then why are a lot of countries trying to get in it? Why didn't Greece go out when it had the chance?