But before you read it, I want to look back to when the Euro was first being put in place. I said then, and believe now, the currency must fail.
The very premise of it made no sense to me: Take a multitude of cultures, with a multitude of economies, with multitude of currencies and then combine all of them, but allow them all to negotiate the base exchange rates (the first round of self-enrichment) so that eventually the countries with the strongest economies can seek to impose their philosophies upon cultures and economies that are inapplicable (such as taking a German industrial-based approach to Greece's tourism based economy) in order to assure that their economies are not hurt by the ones they are actually trying to exploit through increased sales of their goods and services (the second round of self-enrichment).
I mean, for example, how on earth could Greece's tourism economy get back from Germany the same amount of benefit as it gives to Germany from its purchase of German goods and services? The math seemed and seems pretty simple to me.
That said, now read this: