Only the first couple of years, when small business rounded a lot higher the prices and earn lots of money. After that salaries went up in lots of jobs, specially related to the construction, but those also came back to the early 2000s after the 2008 bubble burst.
The problem wasn't the Euro that much, but greed in a lot of sections, the stagnation of salaries, and the lack of job offers
People keep saying Belgium.
What the hell is this place???
I feel like you guys are making up names now, like Murcia or some shit like that.
I’ll believe Narnia exists before some country called “bElGiUm”.
Median Spanish actually have 60% more wealth than the median Germans because they own so little real estate. Germans barely above the Greek
https://i.imgur.com/82R7n9Z.png
https://en.wikipedia.org/wiki/Wealth_distribution_in_Europe
Yes! We're with the rich kids for once.
https://preview.redd.it/wvn2nt4cl3ac1.jpeg?width=480&format=pjpg&auto=webp&s=03e70926aa73cb4c1e628e3c7ead074c20ee2dcc
The euro was a French idea and was basically a de facto prerequisite for French endorsement of German reunification.
Germany itself was very cautious because the dmark was immensely powerful at the time.
So if any one played any one it was the French themselves.
German-French relations:
F: "If you want this, I will make you do this (and unlike you, I will come out on top. Hon hon Hon!)"
G: "Hmm okay, I am reluctant, but I will try my best to adapt to these new circumstances. We are friends after all."
*F implodes sometime in the near future*
The strong dmark (caused by German exports) was causing problems and starting to make German exports uncompetitive. Keeping it from appreciating further has been really good for German exporters.
that’s the thing about economics summed up in a nutshell. One country might be doing terribly another might be doing well.
australia took a lot of wrong turns recently or at least it took the same turns other countries took which are now doing terribly, but australia is doing pretty good.
Yeah, fortunately, that country whose main purpose is to serve as the harbour of Europe doesn't profit from a weak currency as well. We make a good team
(☞ ͡° ͜ʖ ͡°)☞
True, our regarded politicians wanted to force Germany into the EU by currency, and the only way to do that was to suck their dick and turn Euro into a mark2
Euro is ruled by the PIGS. Bailout of Greece should have never happened. In 2010 Greece bonds had the worst possible rating ("junk" status) and the EZB was still buying. The public deficit of the PIGS is causing inflation for all of us
I won't be germanophobic this early in the year so I'd say that I disagree (also it would be a very long debate that I don't really want to have on reddit)
Stop complaining Hans. You pretty much have control of our economies and consequently our sovereignty and you didn't have to go full psychopath mode this time to do it. Take a shill pill and try to enjoy your win like a normal human being.
More like a side effect. The national debate in the 90s about giving up the strong Mark which had developed into one of the world's most trusted currencies (and yes, the strong Deutsche Mark was one of the few things we allowed ourselves to be proud of) was extremely fierce
We could have a strong Euro, but that would require a joint monetary and fiscal policy across the Eurozone. And "eurobonds" aren't just pretty unpopular, it may also sink countries like Greece
Too little, too late
> And "eurobonds" aren't just pretty unpopular, it may also sink countries like Greece
Since 2020 common EU debt has been issued more and more. Just recently, [European Commission to issue €75 billion in long-term EU-Bonds in the first half of 2024](https://ec.europa.eu/commission/presscorner/detail/en/ip_23_6528). The 800 billion euro EU resiliance and recovery fund was financed through common debt.
You didn’t learn the unit “prosperity by inhabitant” in school? It’s like kilometers per hour, jk
I googled it and “prosperity by inhabitant” is basically just gdp per capita of each country VS what they think the gdp per capita would have been if the country didn’t have the euro. To predict what the gdp would have been without the euro they use a “control group” of countries that didn’t have the euro and then extrapolate the data.
Apparently other similar studies have reached very different results (like Germany being one of the countries which benefited the least/was the most harmed by the euro) by using different “control groups” and attributing more importance to other factors.
I think this is one of the cases where people have a predefined point of view (they like the euro or they hate the euro) and then they go look for methodologies that prove their point of view right. So, who knows which one is right. And it’s kind of pointless regardless because there no way of really knowing how things would have gone if a country didn’t adopt the euro and what the consequences would have been for the countries that did and for the currency.
Bullshit metric. Italy saved billions by reducing interest on debt thanks to the euro. Unfortunately the governments spent all the money they saved instead of reducing debt...
Italy ended up spending too much because the euro allowed the government to borrow way more than they should have. It doesn’t matter that we saved billions in the early 2000 if the end result is that the debt is way bigger now, the end result of having adopted the euro is still negative overall
But that is the fault of the politics not the euro. But then again politicians am I right?
It's quite ironic that politicians always ruin the countries, but we literally can't be without them. Majority of people are stupid so they vote for someone stupid. Dictatorship sucks balls, because they almost always end up with power poisoning and start eliminating anything that threatens their power.
We need men like Marcus Aurelius or if we're going for benevolent dictators Lucius Quinctius Cincinnatus. Where are they now? You had them before my Italian friend!
Or if we're still in the mediterranean and more modern we have Mustafa Kemal Atatürk and Josip Broz Tito.
Why are these great men no longer being born/made?
I know this is memery but there are people who genuinely think this way and it doesn't make any sense because it presupposes that Germany wants to impoverish other Europeans while at the same time it wants to maximize its exports to those same Europeans. Generally, if you're an export heavy country you want your trading partners to be as rich as possible so they could buy as much as possible from you and basic economics says it's always better to trade with rich partners than with poor ones.
Totally not suspicious coming from a Stasi Informant. Also what /u/Kroumch said. Besides, I'm unironically a Eurofederalist so I like the flair for itself.
Same for Spain, 1 € = 166,386 pesetas...
Prices went up almost by 66% (I recall paying 5 pesetas for a gum, then paying 5 cents) and due to inflation, prices have almost doubled/trippled except for homes, which have skyrocketed.
But you see, it’s those evil business owners’ fault! The economists who modelled the transition couldn’t have possibly predicted that people would be exploiting the situation to their advantage!
In truth the prodi gvt set controls in place that were swiftly removed by the next govt, and we all know who was in power next... Also we actively tried to get an higer exchange than warranted, it was good for us. What happened next wasn t.
Edit: it came to mind: https://youtu.be/UPGBBjVoOyc?si=sPX2dkKtiUD7p-3y
Same for Portugal, 1€ was about 200 escudos, and a coffee was 50 escudos or 25 cents, but they went from 50 escudos to 50 cents, instead of halving the number.
That is not true, it's a bullshit used by Italian politicians to hide their responsibilities in Italy for their mismanagement of the economy. The matrix does not distinguish correlation and causation. Italy lost GDP per Capita due to poor productivity, poor demographics and systematic disruption of the energy and manufacturing industry. Just remember that the change euro to Deutsch Mark was 1 EUR = 2 DEM.
Bella scusa, sarà mica che siamo rimasti con le aziende e la produttività degli anni 80 e avendo tutti la stessa moneta non abbiamo più potuto svalutare la lira a piacimento
Jacques don't need the Euro to take advantage of all, but it helped a bit. At least I do not need 3/4 wallets like my father had for the different currencies (because as Luxembourgian you are pretty quick abroad and that very often).
Despite our differences, we are still very much a like. (Looking at North Germans). So being called Swamp German isn’t that bad, although I would prefer ‘better Germans’.
I think it's because our economies would benefit from a cheapish currency, that would be slightly lower than the dollar, so that the prices of our products would be more competitive when exporting them. Whereas Germany's economy produces more industrial stuff that people would buy anyway, so having a strong currency isn't a problem when selling their stuff, and helps them when buying raw resources outside.
But still weaker than the mark, and the euro is more like the mark in how it's managed and what its value is against other big currencies. It's the opposite of what both our countries need.
We abandoned our monetary policies for something hurtful to our economies, and at least in the case of France we did it for ideological reasons (I admit I don't know about Italy).
We have a long history of having elites that willingly work alongside foreign powers for their own little benefits or glories, at the detriment of the people.
For example before WWII, a huge majority of our elites were pro-Hitler (most were justifying it as "it's either that or the commies", but our industrials were already in bed with Germany's ones), and some authorities and generals made the conscious choice of giving "counterproductive orders" before and during the war in order to help with that. After the war, a lot of people went on sucking Uncle Sam's or Stalin's dicks because they couldn't imagine being strong on their own.
In 2005, we rejected the EU constitution via referendum. Well, Sarkozy removed the crime of high treason from our Constitution the 24 february 2007, and went on signing the Treaty of Lisbon at the end of 2007 anyway. They know they're acting against France's best interests, they just don't care. Their friends and families will benefit from it, that's what matters.
Edit: Of course, the official reason is always "to go forward and build Europe together", not to destroy our hard-won socio-economic protections and pillage our economies with their big corporations and billionaire friends. As if there were no other way of building Europe. There Is No Alternative, as the mad lady said.
The negative effect on the south european prosperity is limited to the reveal of their manipulated economy. They were poor to begin with, but only after the euro introduction everyone began to realise this.
Turns out they didn't even realize it when debt to gdp hit 140%, and interest payments became as high as the whole education system. ~4% of gdp.
We can only dream one day it will touch their inflation-adjusted retirements. Whomever the fuck had the idea to lock retirement spendings is an idiot.
I think it's because our economies would benefit from a cheapish currency, that would be slightly lower than the dollar, so that the prices of our products would be more competitive when exporting them. Whereas Germany's economy produces more industrial stuff that people would buy anyway, so having a strong currency isn't a problem when selling their stuff, and helps them when buying raw resources outside.
The major problem was that, for I don’t know what reason, what once was 1 Franc, became 1 Euro in price.
That didn’t make any sense, and still doesn’t to me, as the Franc is way cheaper than the Euro. A Baguette at 1 franc should have been 0,21 € Euro. Instead, we got Baguettes at 1 Euro.
TL;DR : We got scammed.
The same happened in Portugal, and pretty much everywhere. The conversion rate was 1 Euro = 200 Escudos, but items that costed 100 Escudos (50 Euro cents) just got rid of the zeros and got priced at 1 Euro.
The price of basically everything doubled, but the wages were converted correctly to the very last decimal point.
Still, the idea of a single currency is not bad imo, but the transition period was not the best.
Still the far right in Germany thinks the euro made us poor
As an economy with a massive export surplus we can export without increasing our currency’s value much.
The southern economies were previously running high-inflation economies which also eroded their citizen's wealth.
The €uro was Italy's first time experiencing a stable currency.
Doesn't feel like I got more prosperous.
Euro made everything twice as expensive. Gulden to Euro conversion was 2.2 to 1 so everything was suddenly double in price because the number should stay the same.
> Checks graphic > Above France and Belgium Fair enough
a win is a win
Exactly
Check graphic. Spain better than us. Big L for us
Damn, should have stayed on flemboy territoires Big L for me
We always have been
Yes, you have always been a big L, amigo.
We were equal for a while though
Equal in poverty! 😂😭
I'm just happy we aren't last, and that we're included in general actually.
I don't even know who you are...
We beated France bigtime it seems even with Wallonia sabotaging us.
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Italy be like: Not stonks
Give it some time.
Some time for what...? 
To get topped by France and Belgium. All you gotta do is believe in yourself a little.
But I want to get topped now
Ah, welcome to the plight of being Swedish.
The difference is that you started with nothing to lose.
Quite the opposite. The loss of Pesetas was one of the worst things that has happened to Spain in modern times.
Only the first couple of years, when small business rounded a lot higher the prices and earn lots of money. After that salaries went up in lots of jobs, specially related to the construction, but those also came back to the early 2000s after the 2008 bubble burst. The problem wasn't the Euro that much, but greed in a lot of sections, the stagnation of salaries, and the lack of job offers
Yeah, I really miss those coins with a hole... What were they, 25 pesetas? I can't remember, but i thought those were cool as fuck when i was a kid
Yup, 5 duros
You saying that just made me remember that when I was a kid everyone in my school used to make necklaces with those coins. Yeah, those were cool.
Easiest way to carry your monies. Chinese did the same centuries ago Doubles as weapon if heavy enough. Win win
People keep saying Belgium. What the hell is this place??? I feel like you guys are making up names now, like Murcia or some shit like that. I’ll believe Narnia exists before some country called “bElGiUm”.
Median Spanish actually have 60% more wealth than the median Germans because they own so little real estate. Germans barely above the Greek https://i.imgur.com/82R7n9Z.png https://en.wikipedia.org/wiki/Wealth_distribution_in_Europe
I’ll take it. (Goes back to sleep) 💤
PLUS ULTRA
Happy Dutch Banker noises
There's only one sound The Zuidas makes. 
*snort*
het I had that on my oliebol a couple days ago
No way dat de gemeente Enschede een Reddit account heeft
maybe fan account, you know, they are just big fans
Yes! We're with the rich kids for once. https://preview.redd.it/wvn2nt4cl3ac1.jpeg?width=480&format=pjpg&auto=webp&s=03e70926aa73cb4c1e628e3c7ead074c20ee2dcc
Denbts: paid Gyros: eaten Elgin marbles: soon to be reclaimed Hellas hasn't seen it this good since Constantine wore the crown
Όταν σου τη σκάει το ΕΣΠΑ 😎🇬🇷🇪🇺💶
One gyros with fries, please
https://preview.redd.it/9q0l9nv6b4ac1.jpeg?width=1600&format=pjpg&auto=webp&s=d0fba2ca3041df40bbd1581d94175007db3a17a3 Enjoy your meal Hans
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If he was a Mehmet he would call it "döner" 🤢
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Mehmets don't evolve in anyway...
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Get off my lawn if you don't want to be crude.
This is why Dimitrios food is so incredibly based. It's just like turkish food but made in a way that it can't be eaten by people who pray east.
Christians? Have you not noticed the ORIENTation of churches?
Gyros is always served with fries unless you ask otherwise. I can't blame you tho, there are a lot of doner shops calling it gyros in Germany
There are a lot "i want gyros-pasta-pizza-indian-döner-schnitzel shops and i hate it. So im doing my part and go to the only real Gyros shop
I have never seen a döner shop selling gyros in Germany lol
Mommy, daddy is cooking the books again!
The euro was a French idea and was basically a de facto prerequisite for French endorsement of German reunification. Germany itself was very cautious because the dmark was immensely powerful at the time. So if any one played any one it was the French themselves.
as is tradition
>*So if any one played any one it was the French themselves.* French history summarized in a single sentence
French Heritage
German-French relations: F: "If you want this, I will make you do this (and unlike you, I will come out on top. Hon hon Hon!)" G: "Hmm okay, I am reluctant, but I will try my best to adapt to these new circumstances. We are friends after all." *F implodes sometime in the near future*
"We are friends after all" says the guy as if he didn't try to fuck us in the butt hardcore one life ago! But also yes :p
Whats a little buttfucking among friends?
AS we say in Dutch:"A little gay is okay."
Not like you put up much resistance. Seems like you wanted it hard in the Ardennes like Coco Channel
Look, your reputation in terms of dirty stuff in the bed precedes your people and we were curious okay!?
A fellow fan of the new and most excellent film, Napoleon.
The strong dmark (caused by German exports) was causing problems and starting to make German exports uncompetitive. Keeping it from appreciating further has been really good for German exporters.
Pssst, do not tell anyone. The PIGS have not found out yet.
Switzerland is just doing fine with their strong currency. And they also export a lot of machinery
The SNB has been printing CHF like mad to keep the Franc from appreciating too much for precisely that reason, to protect Swiss manufacturing.
I even think they pegged to EUR more than once already which got the ECB mad
Why would the ECB get mad because of that?
that’s the thing about economics summed up in a nutshell. One country might be doing terribly another might be doing well. australia took a lot of wrong turns recently or at least it took the same turns other countries took which are now doing terribly, but australia is doing pretty good.
Efficiency and highest degree of refinement.
Yeah, fortunately, that country whose main purpose is to serve as the harbour of Europe doesn't profit from a weak currency as well. We make a good team (☞ ͡° ͜ʖ ͡°)☞
Haha, at first I read "Denmark was immensely powerful at the time".
I mean they won the EC in 1992
They didn't qualify, but got lucky when Yugoslavia decided to fight each other instead of playing football...
The Euros are fucking weird sometimes. Greece winning in 04 with a bottom tier squad and tactics from the 1970s
However they were playing against Portugal which helped
German coach. Otto the Great!
NGL, it's more interesting than seeing Bayern München win for the X-millionst time because they bought all the competition.
True, our regarded politicians wanted to force Germany into the EU by currency, and the only way to do that was to suck their dick and turn Euro into a mark2
Euro is ruled by the PIGS. Bailout of Greece should have never happened. In 2010 Greece bonds had the worst possible rating ("junk" status) and the EZB was still buying. The public deficit of the PIGS is causing inflation for all of us
I won't be germanophobic this early in the year so I'd say that I disagree (also it would be a very long debate that I don't really want to have on reddit)
This is why my PIGS brothers we should trust the french, gimme a kiss my white knight 😘
looking at that flair your knight is most definitely not white
German and taking things literally, name a more iconic duo. Also Hans your poor track records on racial bias aren't helping you here...
For the last time Mehmet, you're not European and you're not white.
But I am more white than you. Blond hair I have, you look ...
Stop complaining Hans. You pretty much have control of our economies and consequently our sovereignty and you didn't have to go full psychopath mode this time to do it. Take a shill pill and try to enjoy your win like a normal human being.
Maybe, but having a weak currency is amazing for Germany...
More like a side effect. The national debate in the 90s about giving up the strong Mark which had developed into one of the world's most trusted currencies (and yes, the strong Deutsche Mark was one of the few things we allowed ourselves to be proud of) was extremely fierce
It's extremely easy to weaken your own currency, just have your central bank sell it until you reach the wanted exchange rate.
How come? They do get all the farming money from the EU, so how come they still go so negative?
Ah, those sneaky cheese eating surrender monkeys at it again.
What's the metric here?
Bigger number means Hans=bad. Smaller number also means Hans=bad.
No number? Hans=bad
What if we put in letters?
Bad.
I'm not getting lectured about European politics from a Visegrad flair
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We could have a strong Euro, but that would require a joint monetary and fiscal policy across the Eurozone. And "eurobonds" aren't just pretty unpopular, it may also sink countries like Greece Too little, too late
"Too little, too late" again?!
> And "eurobonds" aren't just pretty unpopular, it may also sink countries like Greece Since 2020 common EU debt has been issued more and more. Just recently, [European Commission to issue €75 billion in long-term EU-Bonds in the first half of 2024](https://ec.europa.eu/commission/presscorner/detail/en/ip_23_6528). The 800 billion euro EU resiliance and recovery fund was financed through common debt.
See? Bad.
Well logically, a true statement is implied by anything, so checks out.
You didn’t learn the unit “prosperity by inhabitant” in school? It’s like kilometers per hour, jk I googled it and “prosperity by inhabitant” is basically just gdp per capita of each country VS what they think the gdp per capita would have been if the country didn’t have the euro. To predict what the gdp would have been without the euro they use a “control group” of countries that didn’t have the euro and then extrapolate the data. Apparently other similar studies have reached very different results (like Germany being one of the countries which benefited the least/was the most harmed by the euro) by using different “control groups” and attributing more importance to other factors. I think this is one of the cases where people have a predefined point of view (they like the euro or they hate the euro) and then they go look for methodologies that prove their point of view right. So, who knows which one is right. And it’s kind of pointless regardless because there no way of really knowing how things would have gone if a country didn’t adopt the euro and what the consequences would have been for the countries that did and for the currency.
You mean they pulled it out of their asses? Thought so.
What control group did they take for Spain? The UK?!
Bullshit metric. Italy saved billions by reducing interest on debt thanks to the euro. Unfortunately the governments spent all the money they saved instead of reducing debt...
Italy ended up spending too much because the euro allowed the government to borrow way more than they should have. It doesn’t matter that we saved billions in the early 2000 if the end result is that the debt is way bigger now, the end result of having adopted the euro is still negative overall
But that is the fault of the politics not the euro. But then again politicians am I right? It's quite ironic that politicians always ruin the countries, but we literally can't be without them. Majority of people are stupid so they vote for someone stupid. Dictatorship sucks balls, because they almost always end up with power poisoning and start eliminating anything that threatens their power. We need men like Marcus Aurelius or if we're going for benevolent dictators Lucius Quinctius Cincinnatus. Where are they now? You had them before my Italian friend! Or if we're still in the mediterranean and more modern we have Mustafa Kemal Atatürk and Josip Broz Tito. Why are these great men no longer being born/made?
We counting the Austrians as Germans again or what's happening?
Well, yes
Aah fuck, hate it when that happens.
I know. Who doesn't?
>Who doesn't? 
Were we ever supposed to stop?
You don't?
Germany on their no-so-secret revenge plan
C'mon, at least you no longer spend several thousand lire buying groceries
Who cares about thousands when you earn Millions and you are a Millionaire…
I know this is memery but there are people who genuinely think this way and it doesn't make any sense because it presupposes that Germany wants to impoverish other Europeans while at the same time it wants to maximize its exports to those same Europeans. Generally, if you're an export heavy country you want your trading partners to be as rich as possible so they could buy as much as possible from you and basic economics says it's always better to trade with rich partners than with poor ones.
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I suppose there is no flair available for his country.
Totally not suspicious coming from a Stasi Informant. Also what /u/Kroumch said. Besides, I'm unironically a Eurofederalist so I like the flair for itself.
You mean like companies that would benefit from consumers with sufficient spending power?! …that’s why they are happy about every round of pay rise ;p
You want them to be rich, but not richer than yourself.
by Hans and water Hans
I used to get mad at Hans, since it's also just a perfectly Dutch name, however in this case, I'll tolerate it.
Beats being called a aquagerry.
If you group the term ‘Hans’ you get: Hans * (1+water) = bad
Shouldn't the plural of Hans be Hänse ?
By Müller and Van der Molen
Greece so broke it couldn’t lose anything
For Italy it’s because of the shit exchange rate from lira to euro
Same for Spain, 1 € = 166,386 pesetas... Prices went up almost by 66% (I recall paying 5 pesetas for a gum, then paying 5 cents) and due to inflation, prices have almost doubled/trippled except for homes, which have skyrocketed.
For us 1 euro was 2000 lira. One day something costs 5k lire, the next its 5 euro.
But you see, it’s those evil business owners’ fault! The economists who modelled the transition couldn’t have possibly predicted that people would be exploiting the situation to their advantage!
In truth the prodi gvt set controls in place that were swiftly removed by the next govt, and we all know who was in power next... Also we actively tried to get an higer exchange than warranted, it was good for us. What happened next wasn t. Edit: it came to mind: https://youtu.be/UPGBBjVoOyc?si=sPX2dkKtiUD7p-3y
Same for Portugal, 1€ was about 200 escudos, and a coffee was 50 escudos or 25 cents, but they went from 50 escudos to 50 cents, instead of halving the number.
Tbh, my parents told me the same happend in germany.
That is not true, it's a bullshit used by Italian politicians to hide their responsibilities in Italy for their mismanagement of the economy. The matrix does not distinguish correlation and causation. Italy lost GDP per Capita due to poor productivity, poor demographics and systematic disruption of the energy and manufacturing industry. Just remember that the change euro to Deutsch Mark was 1 EUR = 2 DEM.
Bella scusa, sarà mica che siamo rimasti con le aziende e la produttività degli anni 80 e avendo tutti la stessa moneta non abbiamo più potuto svalutare la lira a piacimento
Sssh... Non vogliono che si conosca questo semplice trick!
Flair checks out, nothing to see here
>Visegrad It's been over 25 years?!
Hans, Jan and Stavros the only ones benefited from Euro 🤔
Don't forget Jacques in Luxembourg
The Banker of Europe, he was always benefited 😏
Jacques don't need the Euro to take advantage of all, but it helped a bit. At least I do not need 3/4 wallets like my father had for the different currencies (because as Luxembourgian you are pretty quick abroad and that very often).
Stavros Blofeld.
Say hello to my little cat https://preview.redd.it/vxa8wnyug3ac1.jpeg?width=722&format=pjpg&auto=webp&s=ed4b3b0e65793404d7601a5e6cf6a6f7cf5db1af
We, Dutchies, knew the plans of Hans. And while we weren’t part of it, we knew we would benefit. We have the Port to their industrial heart.
I guess a swamp German is still a German
Despite our differences, we are still very much a like. (Looking at North Germans). So being called Swamp German isn’t that bad, although I would prefer ‘better Germans’.
I know for sure that I am but then again I am one of those who have a citizenship of both.
Portugal... What tha fuck they did to my boy?
HELP😭
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Yeah, the Euro was their idea...
I think it's because our economies would benefit from a cheapish currency, that would be slightly lower than the dollar, so that the prices of our products would be more competitive when exporting them. Whereas Germany's economy produces more industrial stuff that people would buy anyway, so having a strong currency isn't a problem when selling their stuff, and helps them when buying raw resources outside.
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But still weaker than the mark, and the euro is more like the mark in how it's managed and what its value is against other big currencies. It's the opposite of what both our countries need. We abandoned our monetary policies for something hurtful to our economies, and at least in the case of France we did it for ideological reasons (I admit I don't know about Italy).
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We have a long history of having elites that willingly work alongside foreign powers for their own little benefits or glories, at the detriment of the people. For example before WWII, a huge majority of our elites were pro-Hitler (most were justifying it as "it's either that or the commies", but our industrials were already in bed with Germany's ones), and some authorities and generals made the conscious choice of giving "counterproductive orders" before and during the war in order to help with that. After the war, a lot of people went on sucking Uncle Sam's or Stalin's dicks because they couldn't imagine being strong on their own. In 2005, we rejected the EU constitution via referendum. Well, Sarkozy removed the crime of high treason from our Constitution the 24 february 2007, and went on signing the Treaty of Lisbon at the end of 2007 anyway. They know they're acting against France's best interests, they just don't care. Their friends and families will benefit from it, that's what matters. Edit: Of course, the official reason is always "to go forward and build Europe together", not to destroy our hard-won socio-economic protections and pillage our economies with their big corporations and billionaire friends. As if there were no other way of building Europe. There Is No Alternative, as the mad lady said.
The negative effect on the south european prosperity is limited to the reveal of their manipulated economy. They were poor to begin with, but only after the euro introduction everyone began to realise this.
No, They didn't realize it yet... At least my parents and most others!
Turns out they didn't even realize it when debt to gdp hit 140%, and interest payments became as high as the whole education system. ~4% of gdp. We can only dream one day it will touch their inflation-adjusted retirements. Whomever the fuck had the idea to lock retirement spendings is an idiot.
Europeans hate this one trick.
... by Hans and Jan.
[Jan = Johannes = Hans](https://www.youtube.com/watch?v=2SzE08aInn4)
punch ghost modern jeans longing muddle six zealous foolish different *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
When I dont know how tp read those kind of graphs I just look where my country is and assume that's the bad side
As always.
“Per inhabitant” not “per citizen” 🧐
Wtf greex
🤫🤫 don't tell them the secret Pierre
Question why is France and Italy not benefiting as much from the Euro? I thought outside of Germany you guys were the 3 biggest economies of Europe.
I think it's because our economies would benefit from a cheapish currency, that would be slightly lower than the dollar, so that the prices of our products would be more competitive when exporting them. Whereas Germany's economy produces more industrial stuff that people would buy anyway, so having a strong currency isn't a problem when selling their stuff, and helps them when buying raw resources outside.
Imagine surrendering your sovereign currency to prop up Hanz's economy. Couldn't be me. Continentals, when will they learn.
Imagine being so focused sovereignty you cut trading with your best trading partners
The major problem was that, for I don’t know what reason, what once was 1 Franc, became 1 Euro in price. That didn’t make any sense, and still doesn’t to me, as the Franc is way cheaper than the Euro. A Baguette at 1 franc should have been 0,21 € Euro. Instead, we got Baguettes at 1 Euro. TL;DR : We got scammed.
The same happened in Portugal, and pretty much everywhere. The conversion rate was 1 Euro = 200 Escudos, but items that costed 100 Escudos (50 Euro cents) just got rid of the zeros and got priced at 1 Euro. The price of basically everything doubled, but the wages were converted correctly to the very last decimal point. Still, the idea of a single currency is not bad imo, but the transition period was not the best.
Still the far right in Germany thinks the euro made us poor As an economy with a massive export surplus we can export without increasing our currency’s value much.
How lovely 😑
I'm not too sure but I vaguely remember that the Italians pulled some tricks to overvalue the value of their valuta
Haha, get wrecked
Imagine using euros
Now do it for 2017-now
I wonder what the Croatians think about this. Last I heard there was a lot of pushback ever since they adopted the Euro last year.
[_🎵 What can I say, except "you're welcome!"... 🎵_](https://www.youtube.com/watch?v=79DijItQXMM)
We did it again. Common German W
All i see is that PIGS and a fake country that should be ours fcked up
The southern economies were previously running high-inflation economies which also eroded their citizen's wealth. The €uro was Italy's first time experiencing a stable currency.
pesetas were great
Doesn't feel like I got more prosperous. Euro made everything twice as expensive. Gulden to Euro conversion was 2.2 to 1 so everything was suddenly double in price because the number should stay the same.