The United States of Europe idea seems like the only way to make the euro work, and this whole debacle shows that this idea will not come to fruition anytime soon. In retrospect none of this seems surprising. Interestingly the UK played a large part in killing the idea of a Federal Europe. It also stayed out of the euro. Perhaps the founding countries of the EU would have actually benefited by not bringing in any outside members, establishing the euro just for themselves. Politically, that core group probably could have established a federal Europe. Had they done that, by this time the EU economy would be in fantastic shape and outsiders would be begging to join even at the expense of their national sovereignty. As it happened, the euro expansion countries like Greece never politically accepted the idea that a common currency, and the economic stability that it promised, would come with the trade off of sovereignty. So you have this situation on Greece which is really disastrous for everyone.
[–] Alvinsimontheodore 0 points 1 point 1 point (+1|-0) ago
The United States of Europe idea seems like the only way to make the euro work, and this whole debacle shows that this idea will not come to fruition anytime soon. In retrospect none of this seems surprising. Interestingly the UK played a large part in killing the idea of a Federal Europe. It also stayed out of the euro. Perhaps the founding countries of the EU would have actually benefited by not bringing in any outside members, establishing the euro just for themselves. Politically, that core group probably could have established a federal Europe. Had they done that, by this time the EU economy would be in fantastic shape and outsiders would be begging to join even at the expense of their national sovereignty. As it happened, the euro expansion countries like Greece never politically accepted the idea that a common currency, and the economic stability that it promised, would come with the trade off of sovereignty. So you have this situation on Greece which is really disastrous for everyone.