No I am saying that research and reality more than often does not mix well.
But you dismiss all of this research without even investigating it and based on gut instincts alone. If you want to dismiss economic research, at least educate yourself a bit about economy!
I would prefer one global currency, so that currency could not be used to hide failed economic policies of corrupt governments.
It is not about hiding failures, it is about:
* quickly amortizing national errors because it take decades to see errors and decades to fix them.
* quickly amortizing national crises and prevent the creation of vicious circles that could result from them.
* giving national govts a powerful tool to make some political choices, for example between wealth and equality. Otherwise, in many cases, competitiveness can only be achieved at great social costs.
* advantaging national production against foreign ones when the differences are slim.
But I cant stand the "theory touting" bull**** where one currency union is just fine, but the Eurozone aint... and that difference is based on idiotic ideas of culture, common language and similar bull****.
But culture, language and identity DO have profound economic impacts! They are extremely important forces that drive the market fluidity, the desirability of goods and services, including public services, and the legitimacy of public policies, of public force and of taxes.
The pound is a currency union brought together via violence. The Welsh were subjugated along with the Scots. Their unique cultures and languages were suppressed for centuries and being part of the pound has not helped their economic standing in the world... now this is if you use your theory of currency as a method to improve the economic health of a nation.
Nothing in economic research commands to do such a thing.
But if you think an European common market can exist without a common language, you are blind. Sooner or later the EU will do to our national cultures the same thing that happened to regional cultures. Regardless of what has been declared in the treaties, the EU will be an English-speaking empire with an unique culture. It has already started: less and less of the EU documents are translated every year, more and more of the superior courses in the EU are in English, so are more and more enterprises who seek to draw European talents.
Therefore, my point is.. the argument that culture, language and so on are a negative in a currency union, then it must be so for ALL currency unions and not just the oh so hated Euro.
Of course.
But for Welsh and Scots, nowadays, do they not share the same culture and language as English people, for the most part? I am unfamiliar with them, but I bet there are not really Welsh and Scott markets, just an UK market, and great fluidity of movement between England and those regions. In this case this would make the UK area an optimum currency area because the pros would vastly exceed the cons.
Address the topic, not the other posters. Failure to follow this simple advice has consequences.