EXPERTS: INTRODUCTION OF EURO MADE GERMANY WIN, WHILE ITALY AND FRANCE LOST

HomeNewsEXPERTS: INTRODUCTION OF EURO MADE GERMANY WIN, WHILE ITALY AND FRANCE LOST

The main beneficiary of the introduction of a single European currency in the period of 1999–2017 is Germany, reveal the analysts of the Freiburg-based Centre for European Studies. The additional revenues for Germany amounted to EUR 1.9 trillion (or about EUR 23,000 per resident). Apart from Germany, the only state that got a significant revenue following the introduction of euro is the Netherlands.

The countries that have most suffered as a consequence of the introduction of euro are Italy (that lost EUR 4.3 trillion, or EUR 74,000 per resident) and France (EUR 3.6 trillion, or EUR 56,000 per resident). The losses are explained both by the necessary costs for restructuring (since the membership in the eurozone brought the GDP to stagnation in these economies), and by a falling competitiveness due to the poor capacity of managing the new currency (for example, by depreciation), say the German experts.

“The eurozone, with its rule of two speeds for different types of participants, is a political masterpiece of Berlin, created in agreement with the EU Central Bank and at our expense,” note the Italian journalists.