Re:Croatia to switch to euro, enter passport-free Schengen zone
by lr4444lr on Saturday December 31, 2022 @07:16PM
(#34202165)
> Are the countries supposed to split up and go back to competing with each other in an increasingly harsher global market? How on earth are the small EU countries supposed to compete?
By devaluing their currency to make their exports competitive and improve their unemployment. The European Union's currency umbrella is precisely why the PIGS countries have been suffering ever since the 2011 Euro debt crisis with general economic stagnation, and why the UK could escape it.
Nothing stops countries from making trade agreements with one another and still maintaining their economic sovereignty.
By devaluing their currency to make their exports competitive and improve their unemployment. The European Union's currency umbrella is precisely why the PIGS countries have been suffering ever since the 2011 Euro debt crisis with general economic stagnation, and why the UK could escape it.
Nothing stops countries from making trade agreements with one another and still maintaining their economic sovereignty.