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Originally Posted by towny
It aint rocket science - the â‚ ¬ exists because it suits the grand political aspirations of those who believe in 'The Project'. It is economically indefensible, and those who purport to make economic defences of it merely do so either to hide the true political motives of it, or have been hoodwinked by others who do so.
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So how come the â‚ ¬ cannot work and is a political project, yet the $ does work and serves states as diverse as the technology and wine state of California, banking in New York, tourism in Florida, Agriculture in the bread belt, all with differing average incomes etc. All sharing a common interest rate set by the fed.
The only reason I can see that the â‚ ¬ would not work and the $ would be that there is not a federal tax and redistribution system so the poorer countries / states get funding from the wealthier, but there is. We contribute (according to other posters) £20Bn / yr, which is then used for redistribution to poorer parts of the EU, Greek islands, southern italy etc.
Maybe I'm being
but, the â‚ ¬ is working a heck of a lot better than the pundits predicted in '99 and in another 5 years time will have settled in nicely.