Egregious Euro

Economic growth in the European Union has consistently exceeded growth in the eurozone since the euro debuted on 1/1/99. The two most important reasons are a total loss of control over monetary policy and, maybe worse, since 2012 eurozone governments have been forbidden to run deficits greater than 3% of GDP, neutering fiscal policy. The eurozone now depends almost entirely for growth on exports to China and the USA.

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