The euro has failed, threatens democracy, and should be abolished | WHAT REALLY HAPPENED


The euro has failed, threatens democracy, and should be abolished

To be charitable, you could say the euro has proved itself merely by surviving until its 20th birthday this January. That is a low bar.

Monetary union has otherwise failed as an economic and political endeavour. The evidence of Europe's 'Lost Decade' is that it can only ever be made to work under a regime of technocrat Caesaropapism, that is to say by stripping elected parliaments of their lifeblood control over taxation, spending, and the core economic policies of the nation state.

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