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Say that several countries are forced out after electing governments that would support living wages, renewable energy and full employment. None of those needs a monetary union.
But much of it would benefit from a properly constructed monetary union. Exchange rate unions do hold benefits for small economies, because they reduce the fluctuations in the cost of importing strategic necessaries. It's just that most historical exchange rate unions have been designed by people who need to be fitted for helmets.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Sep 20th, 2013 at 12:44:40 PM EST
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