[mmooss]

> disaster

By your theory, and by the endless claims of the anti-EU crowd, but it hasn't been. People use euros with no problem, every day, for transactions large and small. It's a major international currency, maybe second only to the dollar.

[pembrook]

You’ve offered zero counter points to OPs claims though.

Every time I travel abroad, I transact in local currencies for transactions large and small all over the world using real-time currency exchange rates via the magic of the Visa/Mastercard network.

If that was the core thing the Euro was supposed to solve, the better solution today is just an EU wide digital payments standard.

The point still stands, a common currency without the ultimate unification part is just disadvantageous for most.

[mmooss]

The overwhelming counterpoint that I'm making is that it's not a disaster and hasn't been one, now for 25 years. It's been an overwhelming success by any measure.

Where's the evidence of disaster?

[ethanpailes]

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.

[grecy]

The US has much higher debt than any point in history, which is climbing rapidly, and are manipulating things as much as possible.

I wouldn’t hold them up as a shining example of “good” or “we should do the same”.

[graemep]

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.

[mmooss]

The EU economy is a disaster? Unless we redefine 'economic disaster' to meaninglessness, I think you don't have ground to stand on.

[graemep]

Being the slowest growing major economy is hardly success.

The Euro crisis was a disaster for multiple countries.

[mmooss]

'Slowest growing' is hardly disaster! 2008 was pretty bad for a few countries.

[izacus]

Why are you comparing EU against an economy that also has a common currency that cannot be manipulated by member states?

[graemep]

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.

[graemep]

> People use euros with no problem, every day, for transactions large and small. It's a major international currency, maybe second only to the dollar.

You are missing the point. The problem is not that transactions work, the problems are with interest rates and government borrowing.