The European Union has a currency known as the euro. This currency was introduced and exists today without the most important support needed, a fiscal union. The lack of fiscal transfers across borders has led to deepening depressions in Portugal, Greece and Spain and bad recessions in Ireland and Italy.
Now, these countries have to cut their budgets in order to survive. These budget cuts are causing the rise of nationalism, populism and separatism, which are the factors that led directly to World War II. The last factor remaining is militarism. Fortunately for us, military buildups are very expensive, and Europe cannot afford them.
The insistence of countries like Greece and Spain to remain in the euro is causing violent protests on an almost daily basis. Their best course of action would be to readopt their national currencies, but the cult of the euro prevents this.
The cult of the euro holds that the common currency is the embodiment of a dream of a unified Europe where wars are no longer possible. From Angela Merkel herself,
The euro is more than a currency and we should not forget this during these weeks and months as we work to strengthen the euro.
This is simply bs. The euro is just a currency, albeit a very advantageous one for Germany. Keep in mind that there has not been a full-scale war in Europe for over 67 years, and the euro has existed only in the last 12. The reason that Europe has been peaceful is complex, but NATO and the EU share most of the credit.
There are two reasons why Merkel vigorously supports the euro. The mixture of weak and strong economies gives Germany a much weaker currency than it deserves giving it an export-driven trade surplus. When it comes time to share the wealth, it has proven to be quite stingy. It wants all of the benefits of euro membership but refuses to pay full-cost for them.
Merkel and the rest of the cult of the euro also foresee a politically unified EU under German leadership. Because of the atrocities of WWII, Germany does not project power throughout the world in proportion to its economic might, but it may be able to do so leading the United States of Europe.
The EU and the euro are now causing increased violence and hardship across the European periphery. Separatist movements have erupted in Spain and Italy, and fascism has reared its ugly head in Greece.
I have a modest proposal. The Norwegians, who in the grandest of ironies are the only northern European country not in the EU, should give the award to a more deserving group or person this year. Then, they should promise to award the EU the prize as soon as they dissolve the eurozone to promote peace and prosperity across the periphery.