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Comment by ethanpailes | Hacker News Reader

Since the financial crisis the US economy has kept on trucking, while the EU has stagnated. This isn’t all because of the euro, but it’s definitely a disaster and I think it is reasonable to hold the euro at least partially responsible.

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The US has much higher debt than any point in history, which is climbing rapidly, and are manipulating things as much as possible.

I wouldn’t hold them up as a shining example of “good” or “we should do the same”.

Take a long term view the US has done a lot better in the period it has had a common currency than the EU has done in the period it has had a common currency.

Even in recent decades the US has done much better economically than the EU.

The EU economy is a disaster? Unless we redefine 'economic disaster' to meaninglessness, I think you don't have ground to stand on.

Being the slowest growing major economy is hardly success.

The Euro crisis was a disaster for multiple countries.

'Slowest growing' is hardly disaster! 2008 was pretty bad for a few countries.

Why are you comparing EU against an economy that also has a common currency that cannot be manipulated by member states?

Because the US is structured in a way that makes a common currency workable. It has direct federal taxes, and a very large federal budget. The EU budget is a tiny fraction of total EU public spending.

There is a huge difference between EU states and US states.

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