Re:Imperial Delusions
by inglor_cz on Saturday July 17, 2021 @04:51PM
(#27868766)
I am not even sure if we agree on the question, much less answer.
Some sovereign choices in history have proven to be "Hotel California"-style: joining a scheme was a sovereign choice, but leaving it not so much.
An obvious example is the US which does not let the constituent states secede, even though they joined the Union voluntarily. In a similar vein, Scotland joined the UK voluntarily (though in serious economic crisis), but it cannot just leave on its own when it decides to.
The process of joining the euro has been constructed as one-way only. There are no legal mechanisms to get rid of this obligation once you join. Euro is intended to last forever.
Some sovereign choices in history have proven to be "Hotel California"-style: joining a scheme was a sovereign choice, but leaving it not so much.
An obvious example is the US which does not let the constituent states secede, even though they joined the Union voluntarily. In a similar vein, Scotland joined the UK voluntarily (though in serious economic crisis), but it cannot just leave on its own when it decides to.
The process of joining the euro has been constructed as one-way only. There are no legal mechanisms to get rid of this obligation once you join. Euro is intended to last forever.