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The incentive was a "United States of Europe" to follow the monetary Unity.Reality bites:A. Given the historic national differences, it could only have been dreamt of in the euphoria following the Fall of the Berlin Wall.B. They put the cart before the horse. Political Unity, or at least common binding fiscal policy, is essential for a common currency. They couldn't even agree on a common design of the Euro banknotes and coins: Each country prints their own "National Treasures" on their bills.
The incentive was a "United States of Europe" to follow the monetary Unity.
Reality bites:
A. Given the historic national differences, it could only have been dreamt of in the euphoria following the Fall of the Berlin Wall.
B. They put the cart before the horse. Political Unity, or at least common binding fiscal policy, is essential for a common currency. They couldn't even agree on a common design of the Euro banknotes and coins: Each country prints their own "National Treasures" on their bills.
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