Quote:
Originally Posted by mineistaken
Joining Euro is not losing your freedom. And many free countries wanted and still want to join it. Nothing to do with freedom.
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It is losing your monetary policy freedom.
Spain and Ireland were booming 2005-2008 France and Germany were not, so interest rates were kept low to keep the larger economies from reccession. No way of cooling the Spanish/Irish economies and they went mental.
Spains economy was in pretty good shape, but interest rates kept dropping and you were seeing 25% a year added on housing prices. That had never happened before in Spain.