No, I don't. These economies with lower productivity can't be forced under the umbrella of the same fiat currency regime because their markets would be continually manipulated  by subsidies and yield rate suppresion and can't adjust. So there won't be any growth in capital accumulation and a switch to more consumtive activities. Look at the growth of EU Fonds to execute this policy approach. They are net importer in the internal commerce.

GhostofTruth

The Death Of The Eurozone In One Graph

>  the south of the Eurozone has been locked in an economic trade prison.

You mean, they've been forced to deal with the consequences of sound money, rather than being able to just devalue their currencies at will?

You're making an argument against Bitcoin!