Re:Italy’s austerity-fueled crisis is a warning to the Eurozone
by presidente20 on Saturday April 13, 2019 @07:06AM
(#19652263)
Not true. There are a number of important differences. The US gradually merged into a single currency over a long period of time. As a nation the states have a sufficiently integrated fiscal policy such that budget redistribution is possible. Furthermore the US has a common language and genuinely frictionless trade between states developed over many years. The Eurozone is a bunch of homogeneous economies glued together without fiscal integration or adequate redistribution mechanisms.
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