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Started by <k>, June 16, 2010, 01:00:37 AM
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Quote from: Figleaf on June 16, 2010, 01:46:38 AMThe differences between unitary states, federal states and the unique EU are just not very important for the efficiency of the currency. The "one-size-fits-all" argument can just as well be applied to the US, Germany, Australia or, for that matter, the UK, where e.g. economic growth in England is different from economic growth in Scotland. In fact, you can stretch the argument ad absurdum to city (London grows faster than Newcastle), or even quarter level or on a pan-regional level, making the argument that fixed rates can never work in theory because of this argument, which reminds me of the archeologists who "proved" that archeopterix couldn't fly, until it was shown that by the same argument, bees couldn't fly either. Peter