{"id":295915,"date":"2010-02-08T14:47:25","date_gmt":"2010-02-08T19:47:25","guid":{"rendered":"http:\/\/www.businessinsider.com\/the-euro-was-supposed-to-narrow-economic-differences-but-it-failed-2010-2"},"modified":"2010-02-08T14:47:25","modified_gmt":"2010-02-08T19:47:25","slug":"the-euro-experiment-failed-europe-is-less-unified-than-ever","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/295915","title":{"rendered":"The Euro Experiment Failed: Europe Is Less Unified Than Ever"},"content":{"rendered":"<p><a href=\"http:\/\/www.project-syndicate.org\/commentary\/eijffinger2\/English\"><img decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4b70679100000000004f0857\/eurovision.jpg\" border=\"0\" alt=\"eurovision\" \/>From Project Syndicate<\/a>:<\/p>\n<p>The introduction of the euro in 1999, it was claimed, would narrow  the economic differences between the member countries of the monetary  union. Unemployment rates would converge, as would other important  macroeconomic variables, such as unit labor costs, productivity, and  fiscal deficits and government debt. Ultimately, the differences in  wealth, measured in terms of income per capita, would diminish as well.<\/p>\n<p>After  the common currency&rsquo;s first decade, however, increased divergence,  rather than rapid convergence, has become the norm within the euro area,  and tensions can be expected to increase further.<\/p>\n<p><strong><a href=\"http:\/\/www.project-syndicate.org\/commentary\/eijffinger2\/English\">Read the rest at Project Syndicate &#8211;&gt;<\/a><\/strong><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/the-euro-was-supposed-to-narrow-economic-differences-but-it-failed-2010-2#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/goldman-if-they-get-greece-wrong-all-of-southern-europe-will-fall-like-dominos-and-30-of-euro-gdp-would-be-at-risk-2010-2\">Goldman: If Greece Is Handled Wrong, All Of Southern Europe Will Fall Like Dominos And 30% Of Euro GDP Would Be At Risk<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/swiss-act-overnight-to-devalue-currency-to-keep-pace-with-plummeting-euro-2010-2\">Swiss Take Emergency Action To Devalue Franc To Keep Pace With Plunging Euro<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/portugal-fails-to-pass-austerity-budget-and-opts-for-more-debt-2010-2\">Portugal Fails To Pass Austerity Budget, Prays To God It Can Access More Debt<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/hiNjp0s6rgY\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Project Syndicate: The introduction of the euro in 1999, it was claimed, would narrow the economic differences between the member countries of the monetary union. Unemployment rates would converge, as would other important macroeconomic variables, such as unit labor costs, productivity, and fiscal deficits and government debt. Ultimately, the differences in wealth, measured in [&hellip;]<\/p>\n","protected":false},"author":5487,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-295915","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/295915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/5487"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=295915"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/295915\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=295915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=295915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=295915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}