- If those talks collapse, and Greece defaults on its debts - and then is on a path to exit from the euro - that would probably lead to a revolution in perceptions about what the euro is all about.
At that point, monetary union will have been shown to be a question of economic convenience for its members, rather than profound supra-national destiny.
Ah, I see.
It's interesting. One would think that a monetary union would be a component of a unified Europe in the sense of reducing friction and improving economic exchange. However, it cannot be logically applied without the political machinery that requires unification in a more rigid sense.
Money is a ledger of credits and debts, but to date has been inextricably linked to the levers of political power.
Would the EU be stronger without the Euro? Maybe. The inconvenience of exchange might be better than a monetary union that must override democratic governance that is intrinsic to cultural and national identities.