| WaPo wants a global Euro.
What the Yurps are finding out The Hard Way is that any currency union that contains both hard-working nose-to-the-grindstone cultures and more laid back 'do it tomorrow' cultures will turn into a wealth pump that takes from the thrifty hard workers and gives to The Other Guys. The thrifty hard workers (AKA "Germans","Scandinavians" etc.) get tired of this. The union breaks up over this vast cultural difference. Even worse, a single monetary policy for the world makes no sense when there exist countries at widely different stages of development. |
There isn't going to be a global Euro. There isn't even going to be a European Euro much longer.