Il supporto per la valuta euro è sempre alto nella maggior parte dei paesi dell’UE secondo l’ultimo Eurobarometro

European integration is the best thing that ever happened to Europe. I can’t believe there are actually people who exist that want to tear it all down.

Read a really good book by Joseph Stiglitz (Nobel Prize winning Economist) about the Euro a few years ago, which made me question the wisdom of the shared currency tbh.

In short, a common currency removes two key levers for countries to deal with recessions
1. Can’t devalue currency to attract tourism – instead you have to rely on cutting wages etc to make prices go down which tends to fuck over workers (unsurprisingly)
2. You can’t control your own interest rates because they’re set by the ECB – you saw this with Ireland recently when the ECH was lowering rates to stimulate growth at a time when Ireland was clearly overheating.

All you gain from it is basically the convenience of a shared currency, removal of exchange rate risk and maybe a slight bit of cultural integration.

There was a lot more to it that I can’t remember off the top of my head, but I doubt that people are aware of these types of technical economic arguments, and instead just see the convenience aspect of it (as well as the general status quo preference).

Cool, now they need to make euro bonds a thing, would be great for savings and making the euro a more viable option as the next world reserve currency