[Shivetya]

The problem with Greece isn't capitalism, that much is obvious. The problem is the EU was designed to fail. It was created in such a way to appease the dominant economic countries by guaranteeing the EU would not be a transfer union. This all but doomed weaker economies from the get go.

Tied to one currency they lost the most effective means of combating budgetary and economic issues. Worse, as they become weaker it becomes ever harder for them to generate the hard currency they need.

So if anything what happened is exactly the opposite of capitalism, they could not compete because the rules agreed by governments prevented them. Yes Greece shares fault for working the books but the EU was formed to only favor the powerful countries and protect their interest, this was no union

[yummyfajitas]

Preventing the EU from being a transfer union is not what doomed the weaker economies; the fact that some of the weaker economies tried to turn it into such did.

The more capitalist weaker economies (note: most are poorer than Greece) seem to be doing just fine.

https://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&...

[digikata]

I wonder if it is possible to design a currency union with just a small amount of decoupling between the individual national bonds and the unified currency? e.g. all members of the union are required to make certain transactions in euro, but issue national debt in their own currency which floats in exchange vs the euro? I think this scheme has problems, but it seems like with the right decoupling points somewhere in the system, you might be able to operate the euro more robustly.