Brexit

[Muddy Retriever]

Having now had a chance to look briefly into Oracle's sources, it strikes me that the alleged economic woes of some southern European nations and the indisputably high youth unemployment rates are not claimed by those economists to be an inherent failing of the Euro; more a failing of interventionist central banks.

One of the problems of the euro is that the members don’t have their own independent central bank. They aren’t able to adopt monetary policies that are right for their countries at any point in time. So for example after the financial crisis the UK slashed its interest rates and introduced QE much more quickly than the eurozone did. Eventually the eurozone did the same but initially the ECB bizarrely increased rates because of German concerns about inflation. What’s right for the German economy is totally different to the Greek or Italian economy. A one size fits all policy doesn’t work.