A few reasons. First and foremost, we can print more money. Spain can't. And that's the big problem for the PIIGS, what they really need to do just print more currency. The value goes down, so does the value of the debt they have. Sure, prices go up, but that's how floating fiat currencies work.
Spain doesn't have that option. The value of their national debt is tied to the economy of Germany and France and Denmark.
Our economy is just tied to the world's largest economy, us. And we do have loads of things the rest of the world really does want. Most of all, 225 years of solid stability. Even during the civil war, the rest of the world knew where the leader of the United States was.
Where's the leader of the EU? A floating presidency doesn't make for a leader.
Sure, they could fly to some of the small economies, but none of them can absorb all that much influx of cash. The Swiss are constantly battling assaults on their economy from people trying to flee to a safe haven. The Swiss are more than happy to hold their cash...in foreign denominations, thank you very much.
Yes, it's getting harder - the increased socialism and outright embezzlement of public dollars by public employees isn't going unnoticed elsewhere. But it isn't as bad as elsewhere yet, which gives investors some confidence in the US economy overall.
So, yes, the EU can go away. The Euro can go away. The PIIGS will demand loads and loads of benefits from others, and lots of banks will take a big hit, but the US economy can and will keep on rolling on. Then again, so will the German economy, and the French economy might be shaky, but it'll keep going, and the UK will look like a genius for avoiding the whole mess in the first place.
Kick out the PIIGS, EU - Save your currency, or get ready to mint new currency - The Euro’s about to be worth a whole lot less.
Thanks.
I spent many years supplying small businesses. With 2 privately held distributors.
Now back in family farming operation.