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All of this assumes that Spain, Portugal, Italy, Greece and whatever other countries join a Seuro would actually pursue saner fiscal policies than they currently do as part of the Euro area. With the exception of Greece, their governments are all pretty right-wing right now, and have not shown any tendency to challenge ECB policies.
Unless the Seuro has a true fiscal union.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Sun Aug 28th, 2016 at 01:55:41 PM EST
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