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Comment by Mlller

“europeans agreed to an open market and common currency that included Germany only if [Germany makes a certain concession]”

It was rather the other way round: Germany was made to agree to the euro project as a concession for reunification.[1]

All in all, this seems to have been beneficial for a majority of normal people in the countries getting a stronger currency and for a minority of people in Germany, who export: Consequently, Germany’s wealth distibution tends to be the most unequal in the euro zone,[2] and its median wealth is slightly below that of Slovenia and significantly below that of France, Italy and Spain.[3]

[1] https://voxeurop.eu/en/you-get-unification-we-get-the-euro/

[2] https://www.reuters.com/article/us-germany-wealth-idUSBREA1P...

[3] https://en.wikipedia.org/wiki/List_of_countries_by_wealth_pe...

parent Mlller 4 years ago

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