He, who cherishes Europe, also for the longer term, should ask himself if the euro is really the conditio sine qua non for European cooperation and the internal market. Economically, the euro seems to be a mission impossible: ‘’From an economic perspective, the euro is a failed experiment. Heterogeneous countries can never have one currency. Economist would never have invented the euro’’. This is strong language by former Robeco-economist Jaap van Duijn (NRC Handelsblad 19-8). The language must get even stronger, when taken into account that from a political perspective the euro is becoming a disaster as well. It threatens to be not a common single currency, but a divisive currency. It may be time to consider plan B: European cooperation without the euro. Indeed: better to turn back half-way than to get lost altogether.
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