Quote Originally Posted by Muddy Retriever View Post
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.
You mean a bit like the economy of Utah not being the same as New York City’s, or Shanghai’s economy not being the same as Inner Mongolia’s, or Hartlepool’s economy not being the same as Hackney’s? 🤔