The macroeconomic data is incorruptible: with the introduction of the common currency, the euro, the less productive economies of the Eurozone lost the opportunity to gain some breathing space through currency defenses.

The example of Italy is a good illustration of what is happening. Italy's economic performance has stagnated since the introduction of the euro and this applies to the entire south of the eurozone. The example of Greece, which suffered particularly badly during the Great Financial Crisis, is particularly dramatic.

Incidentally, the euro is also little respected on the international markets. It only takes a few years after its entry into world affairs for a flight of capital from Europe to the United States to set in as the mayor stock market indices prove. The eurozone is on a path of hemorrhaging, of an inability to reform, and it must unfortunately be admitted today that the euro tends to exacerbate the economic tensions that exist within the continent. The attempts by politicians to compensate for a lack of productivity through government spending programs and social policy only lead to further erosion of productivity in the private sector. This is a dead end!