Re:Croatia to switch to euro, enter passport-free Schengen zone
by pavlov on Saturday December 31, 2022 @10:38PM
(#34203336)
The EU does fiscal transfers too. Its 150 billion EUR budget isn’t anywhere near as large as the US federal one, but it’s definitely used as a tool to level up the poorer member states.
America does fiscal transfers. Poorer states get money from richer states. It wouldnt work if they were all routinely forced to borrow money and declare bankruptcy.