The Euro’s 25-Year Absurdity: A Chart Reveals the Failings of Currency Union

Citizen Watch Report ^

[davikkm]

In the past quarter-century, the Euro’s trajectory has unveiled a stark absurdity, encapsulated vividly in one chart. Before adopting the Euro, the Italian Lira depreciated by a staggering 83% against the Deutsche Mark over 25 years. However, in the subsequent 25 years since the adoption of the Euro, these two currencies have been pegged together. The question looms large: What were politicians thinking when they merged the currencies of economically disparate nations like Italy and Germany?

The track record of the Euro tells a tale of unmet expectations. The Euro experiment, designed to foster economic unity, has fallen short. The pegging of vastly different economies has not yielded the anticipated benefits. Currency unions throughout history, when hinging solely on monetary policy, have invariably failed, and the Euro appears to be no exception.

[detch]

This is a non article with one person’s opinion and not really supported by facts.

Draw your own conclusions - there’s not enough in this article to lead you to one.

[Retain Mike]

We have been there before with the Brenton-Woods agreement to restart the world after WW II. It had a useful, but clearly limited life. The Euro was a political dilution from day one.

[Pontiac]

I remember when Italy was trying to join the EU, they were supposed to meet certain economic goals, mostly economic austerity goals.

They met none of them due to political unrest at the prospect of cut backs on government give sways.

And yet they were admitted to the EU.

I knew then that the EU would be a socialist failure like all of the previous attempts.

[T.B. Yoits]

The Euro made it easier to devalue the currency instead of having to deal with separate nations’ currencies where the globalists would have had to instead work incredibly hard to devalue several at once.

[rlmorel]

Just wait until there is a global crypto-currency and cash is outlawed. That’s gonna be fun.

[Chode]

[ptsal]

Bkmk

[Chode]

a real powehouse...

[who_would_fardels_bear]

There were supposed to be two parts to the currency union: replacing the national currencies AND somehow equalizing the economies through nations meeting targets on debt, inflation, growth, etc.

They only got one of those parts accomplished.

[Reeses]

Here's a chart showing the absurdity of Richard M Nixon taking the dollar off gold in 1971, allowing Fedzilla to immediately go wild. It's weird how Demonrats hate RINO Nixon so. Competition?