[pessimizer]

The problem is in having a common currency without a central bank of last resort or a common financial framework. It allows Germany to loan countries on the periphery money which will be used to buy products from Germany. Those countries cannot adjust their currencies to adapt to the threat, so they're left in a constant state of penury and dependance on Germany.

It's not about kumbaya and peace in Europe. The Euro does absolutely nothing to maintain that, and conflating Europe as a political entity and the common currency is a deception.

I hope Merkel will change course before Germany is surrounded by failed states headed by populist right-wing nationalists running on anti-German platforms.