[igravious]

The reason you're being downvoted is because your reply is logically, to be frank, bollocks. Whether or not you believe that countries gave up fiscal sovereignty upon joining the euro you'd have to believe based on your assessment of the political implications of the euro project. How each individual country manages their affairs _in no way_ could affect whether their fiscal sovereignty was called into question upon joining the euro. What you're saying doesn't make _logical_ sense, regardless of ideological position.

EDIT: sorry for saying bollocks to you, that was harsh, i'll leave it in as a record of what i said but i take it back, again sorry.

also - in light of the fiscal and monetary distinction people are making here (see: https://news.ycombinator.com/item?id=9876055) - if you remember, monetary sovereignty was definitely given up (because you can't print your own money any more) at the time of joining the euro (and even the ERM in the first place when currencies were pegged). and fiscal sovereignty was given up to a degree because there were broad parameters set, like the 60% rule and the 3% rule and so on. Remember those? I couldn't understand those rules at the time but i do now, they were there to prevent situations like what's happening now with Greece! People complained that even France and Germany broke those. I suppose this is the giving up of fiscal sovereignty at the micromanagement level now, e.g. "raise so much in taxes, implement these social reforms". it stinks.