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Old 26.11.2018, 09:57
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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So the US in is totally screwed then, if they only had your wisdom they would stop being so silly as to try and set monetary policy for the US since clearly the economy of Alabama is totally different from that of California...

Repeat other people’s crap does not make it true! Monetary policy is just one of a range of tools available to a government to manage the economy.
I covered that several pages ago, do keep up.

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Then you move onto the real problem with the Euro, which is how to set monetary policy with a one size fits all philosophy when you have so many different economies to consider? You can't, which is why it'll either eventually fail, or several countries will fail in order to keep the Euro going.

Just because people like it, which remarkably still holds true, it doesn't mean it's a good thing. If anything will end the EU, the Euro will likely be it. The flip side is that in order to make the Euro work, more Europe is needed (banking union, adjustment mechanism between countries, common tax). Which is why Margarete Thatcher was right when she said the Euro was just a back door way of creating a federal Europe.
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