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View Diary: The Euro Crisis by the numbers (165 comments)

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  •  Euro was Inherently High Risk (1+ / 0-)
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    Euroliberal

    Unlike the dollar's value which is ultimately controlled by the US government's decision on how much money to put into circulation, the Euro's value is controlled by investment bankers. Those who control the private banking system often have interests that are at odds with what is best for a nation's well being. It also gave them a lot of tools to transfer wealth to themselves. Many nations were very reluctant and others choose in the end not to join the Euro zone because they rightly feared what could happen to their economy is they relinquished control over their currency. In the end the lure of being part of a powerful trading block won out over concerns of future economic collapse.

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