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The truth is a single currency can't work with 18 public debts and 18 interest rates on which the financial markets can speculate freely.

In other words, the Euro is supposed to be a sovereign currency, but it isn't issued by a sovereign.  The EU really needs to do an analysis of how well confederacies have worked through the ages.

by rifek on Mon Jan 5th, 2015 at 01:54:43 PM EST

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