The monetary union has not been able to show any noteworthy productivity jumps since it was launched twenty years ago. The economic problems have been growing and at times almost led to national catastrophes. The EMU is not an optimal currency union, and as history has told us, countries like Germany, Greece, and Italy do not fall into step when marching.

Although data indicate that there may be some weak evidence of convergence in long-term interest rates in the Eurozone, there seems to be very little evidence of convergence when it comes to macroeconomic outcomes such as growth, employment, inflation, or public debt.



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Von Veritatis

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