Eurozone unemployment hits 11-year high

[abattia]

Quote from christianhgross: I can make the same argument on the American economy.

I don't know enough detail about the differences between the political/central banking/cultural and other relevant characteristics between the United States and the 16 states "united" in the Eurozone, but this feels like an oversimplificattion to me ... but, indeed an interesting one!

16 different states, (more than) 16 different languages/histories/heritages, makes the Eurozone a more fragile unit than the US, IMHO ...

 

[Ivanovich]

Quote from abattia:

I don't know enough detail about the differences between the political/central banking/cultural and other relevant characteristics between the United States and the 16 states "united" in the Eurozone, but this feels like an oversimplificattion to me ... but, indeed an interesting one!

16 different states, (more than) 16 different languages/histories/heritages, makes the Eurozone a more fragile unit than the US, IMHO ...

Exactly. You cannot compare the EU to the states of the US like christian did. Because at the end of the day, you'll never have, say, Ohio fighting for low rates while Florida is fighting to contain inflation.

You've got Germany looking for stable prices while Spain, Italy, Greece - all countries that were used to devaluing their currencies as a method of gaining competitiveness.