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!
“Give me control of a nation's money supply, and I care not who makes its laws.” -- Mayer Amschel Rothschild
It's crazy that all countries which have the Euro now did just that...
Good quote. We are living in the fiat matrix
Every fiat system is on its way down. It's either bitcoin or fiat, not both.
The euro has been, and will be, an absolute disaster.
The euro is a Zombie, but don't worry, the digital euro will magically solve everything.
A zombie like larger parts of our economy now
We could change the name from "Euro zone" 🇪🇺 to calling it "Euro zombie" 💶🧟
I really like EUSSR But Eurozombie has a proper sound, too
I like EUSSR hahaha
Yes, and the worst of all is that many are interested in the economy being a zombie.
The Euro really stabilized Italy's economy!
Lol
Wow, why is italys gdp like that? I thought they were poor?
Most recently, the European Union tried to stabilize the Italian economy as part of the corona aid and pumped massive sums into it. this will expire next year, which is why Meloni is now also trying to repair relations with China
After the pump comes the slump.
I knew that Italy would perform well
Such a thoughtful perspective! Thanks for sharing
Most of the Europe use same currency as euro that's a good point but that also bad point
The introduction of the euro has had a significant economic impact in the eurozone, especially in the least productive countries. Italy’s position and Greece’s severe struggles during the Great Depression exemplify these challenges. The euro has not gained much respect in international markets, leading to significant outflows to the United States. There are challenges in reforming the eurozone, and euro integration appears to be exacerbating existing economic tensions. Political efforts to address production issues through government spending and social policies have further undermined the performance of the private sector, creating a roadblock