Why Did Countries Who Joined the EU Give Up Their Ability to Print Money?
w/ Thomas Jeegers
Discussion
This is a non-answer.
Bulgaria is in the process of being forcibly annexed into the Eurozone against the will of the majority of Bulgarians. The ruling junta illegitimately discarded a national referendum on the matter of joining the eurozone, going against the Bulgarian constitution.
Denmark rejected the euro by way of referendum. Same for Sweden.
Czech, Hungary, Romania, Poland have not retired the local fiat to use the euro.
I don’t know the individual specifics in the case of all the countries.
In the case of Bulgaria there are tens of billions of euros to be unlocked for unchecked spending for the local corrupt (champion of corruption in the eu) government upon accession from the euro peg.
Other perverse incentives to join:
1) lowering lending standards as a eurozone country,
2) the BG Lev peg to the euro imposes strict budget constraints, which would not otherwise be there.
BG is on the tracks of Greece perpetual debt slave and loss of sovereignty trap.
So much complexity to this. What trips me up: how can a monetary union survive without a fiscal union?
Ie when borrowing is done together but then spent in different ways
Only a matter of time before blows up in my view
Yup.
I also think the central-planner-eu-union will also dissolve in favor of a economic bloc, as opposed to a central planning and warmongering bloc.
The countries not part of the eurozone will have an advantage in being shielded from the fragility of the euro.
Being enslaved is more convenient