Europe Still Slouching Toward Catastrophe

[cthulu2016]

6. It's more than that, though.

Our debt and the UK's debt and Japan's debt are as large but it's ok because we control our currencies.

Leaving villainization of individual states aside, there is no room in the eurozone for normal fiscal policy in tough times.

If the US was in the euro we might not have been able to do even the little bit we have done over here to keep this thing from turning into a depression.

The euro came in during a wildly robust economic period and it was assumed that times would always be good...