Advantage: Single currency in single market makes sense.Trade and everything else should operate more effectively and efficiently with the Euro. Single currency in a single market seems to be the way forward.
Disadvantage: the early 1990s highlighted was that the needs of one part of Europe can have a negative impact on the rest of Europe.
One way around this would be to have large transfers of money from region to region when a local area experienced a recession, e.g. N. Ireland which suffered structural unemployment for most of the post war period, has had its economy propped up by large transfers of resources from richer areas of the UK with lower unemployment. However, regional transfers are very small at the moment unfortunately. Moreover to approximate the regional transfers which occur at the moment in, say, Britain, there would have to be a huge transfer of expenditures from national governments to Brussels.
Where did you find this information?
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