Who wanted the single currency and who won it
“We all remember the first time we held a euro banknote in our hands. Twenty years later, the euro has become one of the most powerful currencies in the world. The euro also reflects our values as a global currency for sustainable investments. It is a powerful symbol of unity “: tweets Ursula von der Leyen, President of the European Commission European Union, to celebrate the twentieth anniversary of the single currency. As David Sassoli, President of the European Parliament, wrote on social networks: “The euro is a symbol of peace and integration, the realization of a historic political vision, of a united continent with a single currency for a single market. Happy twentieth anniversary, EUR!”. Could a memory of Romano Prodi, one of the promoters of the Continental dress be missed? “We regard the euro as a fact of only economic importance. But look at this question of political importance because the ‘Europe with a single currency has more power in the world. During the preparation of the euro – reveals former Prime Minister Olive on radio Rai 1 – and meetings with Chinese presidents, they asked only the euro. Moreover, he was hardly interested in not. They said, “We want the euro because if there is the euro next to the dollar, then there will also be room for our currency. We can thus understand the political concept of pluralism for world governance which was at the origin of the introduction of the euro. It wasn’t just the bankers’ game, as an idiot in the euro calls it, “says the professor:” It was the great start of change in the world. It then happened in the middle because with the great crisis the euro struggled to expand, but now it is starting again. In fact, alongside the dollar, there is a euro which has its own role, which cannot yet be compared to the dollar, but certainly important ”.
The numbers contradict Brody, just think of his historic phrase: “With the euro, we would work one day less and earn as if we were working one day more.” In the meantime, it must be said that dollars of an amount equal to 13 trillion dollars circulate outside the United States, while outside the countries of the euro zone, there are only 3,400 billion euros. In addition, with the exception of China, few mainland countries have benefited from the single currency. Two years ago, a report by the German think tank Cep identified the winners and losers of monetary union. Well, since the advent of the euro, each German has earned an average of 23,000 euros and each Italian has lost 74,000. The Dutch have also gotten richer (+21,000 euros per capita), while the French ( -55,996), the Portuguese (-40,604 euros) and the Spaniards (-5,031 euros) lost.
Since the introduction of the single currency – as stated by the prestigious Center for Studies in Friborg – the erosion of international competitiveness has resulted in “weaker economic growth and lower tax revenues. Greece and Italy, in particular, experienced serious difficulties as they were unable to devalue their currencies. Prodi also pointed the finger at Italy and Greece, referring to the explosion in prices after January 1, 2002. “It is only in these two countries that there has been this phenomenon, because in both country they did not want to observe. My government had established, and Ciampi issued all the technical decrees, first: there were mandatory rates for at least 6 months in lire and euros. So people can see how the change has been. Second: It was necessary to establish control committees at the governorate level. It is not done. And people took advantage of it. Ah .. it is very easy to blame the government of Berlusconi, the government that has managed to switch from reading it to the euro. The figures for the next 20 years saw a 20-year stagnation caused by two main causes: a boom in house prices, linked to the fall in the cost of money (thanks to the euro), and lower growth wages (which Germany was preparing to export Continued). A fatal combination that impoverished Italy.