One response to “Germans don’t understand how currency unions need to function.

  1. If the eurozone were a true nation like the US then these issues could be debated in a national parliament and aid could be sent to Greece rather as fiscal spending is diverted to Louisiana or Mississippi. But that would mean a very real loss of local control for Greek voters, who would have a very small weight in an EU electorate; it would probably mean an EU-wide retirement age, benefits system, tax collection agency and the rest. It would be democratic but not the kind of democracy they might like!

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