What if the euro didn´t exist?
What would have happened to Greece, Italy, Spain?
I think the people on the road would be AT THE SAME EXACT PLACE.
They wouldn´t have called it "austerity" hey would have called it "inflation".
Having a decent salary in dracma and a small in euro, at the end of the day are EXACTLY THE SAME.
That is to say: an Iphone cost less euro than dracmas, but you have to work the same hours to buy it.
So, what is the ADVANTAGE to be in the eurozone?
Most will say the "Germans" earn on it.
But the Germans would earn in Mark, which would be even MORE euros.
So, WHO earns on IT?
VERY EASY: look who PROFITS:
1) Financial institutions in first row. BANKS, HEDGE FUNDS, IMF of course ECB.
2) Last, but not least POLITICIANS.
And ALL what is MORE for them is LESS for us.