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RE: Why The Euro Was Always Destined To Fail
no one is going to back out. At this point, it's really not POSSIBLE. For the 1st time ever, we are seeing a new form of federal union and it will need time to establish and consolidate its position. Euro progress is slowed down because of the double recession (mind you, the financial collapse started in USA). Anyway, most of the countries "lied" about their economic growth, there were criteria to join the EURO zone, thus we are seeing the economic crisis in Italy, Spain, Greece etc.
Have you checked lately what's happening in UK? ;)
Its never too late to back out, just look at the Soviet Union, they were one of the most stable collectives in the world, up until they weren't. The UK never used the Euro though, the EU can be successful with trade partnerships and strengthening relationships, but all those countries under a single currency, I dont see lasting. It works if every country acts fiscally responsible, but when has that ever happened?
oh yes. their economy is doing well, you know (sarcasm). You can't compare Soviet Union with EU. totally different political and economic systems.