Milton Friedman didn't get a Nobel prize for no good reason. His points are salient and easy to understand and one of his greatest strengths is his ability to translate complex economic workings into digestible sentences so that the lay person can understand and learn from his message. I think that the E.U. does hope to operate more as the United States of Europe one day, and that the adoption of a common currency and political body are means to that end. But in this stage, they put the cart before the horse and didn't address the political instability with aligning your currency to people who you have no control over. It will be very interesting to hear Greece's next proposal in the coming week, though I expect either a huge betrayal of the Greek people or laughter from the Germans. Britain looks like a bunch of geniuses at this point for staying with the Pound.