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The sense being, it is possible to have poorer and richer areas in a federal union or the Eurozone. The problem with the Eurozone as opposed to, say, the federal Bundesrepublik or USA, is that there isn’t a mechanism to transfer surplus to deficit areas/ countries. There isn’t a unified fiscal system and different tax rates distort the economies. The Eurozone needs a transfer system and a coordinated fiscal policy similar to that of a single country. Macron has identified that problem, but the richer countries don’t want to balance out the effects on the poorer countries. Schulz also saw that, but got kicked out of power in his own party.
Be honest when it comes to monetary policy you are really found wanting. Your reply makes no sense
The sense being, it is possible to have poorer and richer areas in a federal union or the Eurozone. The problem with the Eurozone as opposed to, say, the federal Bundesrepublik or USA, is that there isn’t a mechanism to transfer surplus to deficit areas/ countries. There isn’t a unified fiscal system and different tax rates distort the economies. The Eurozone needs a transfer system and a coordinated fiscal policy similar to that of a single country. Macron has identified that problem, but the richer countries don’t want to balance out the effects on the poorer countries. Schulz also saw that, but got kicked out of power in his own party.