The EURO: origin, CRISIS and future CHALLENGES – VisualPolitik EN

The EURO: origin, CRISIS and future CHALLENGES – VisualPolitik EN


With an initial exchange rate of USD 1.1789,
January 1st of 1999 has gone down in history as the day the euro was born. It began to operate as an electronic currency,
used in financial markets and for cashless payments. However, it wouldn’t be until three years
later, that is the beginning of 2002, when the Euro coins and notes that we all know
today began to circulate. It had all started a decade earlier, on January
1st, 1991 when 11 member countries of the European Union decided to integrate their
local currencies – currencies such as the mark, franc, lira or peseta – under the
supervising umbrella of the European Central Bank. The Euro era had begun. And it did so in style. Expectations were huge. Perhaps no one showed more confidence in this
new currency than the then European Commissioner for Monetary Affairs, Yves-Thibault. Since then, 20 years have passed, a time in which the new European currency has gone through
both good and bad times… Which means, on many occasions, the euro has
been the main topic of public debate. Because, folks, we can’t deny it, the news
is notoriously pessimistic. Catastrophes and bad news draw more attention
than positive events. It’s easy to believe that the latest news
supercedes any slow and steady trend. So, in recent years we have been hearing all
kinds of theories about what the euro has meant and forecasts about this currency’s
future. Surely, you must’ve heard at some point
that the euro is doomed or that its arrival has led to winning and losing countries in
the eurozone. But what’s the truth? What assessment can we make of the 20 years
that the euro has been part of most Europeans’ daily lives? What challenges does it face? Well, to answer these and other questions
and to celebrate the 20th anniversary of the European currency, thanks to the support and
sponsorship of the European Central Bank, some of VisualPolitik’s team
members traveled to Frankfurt. In this video, we’re going to try and find
out what the euro has meant and what challenges it faces. So, let’s go. (UNITY IS STRENGTH)
I think the first question we need to ask ourselves is quite clear, how and why did
the euro emerge? To answer this question, we need to go back
to the 80s, a decade that wasn’t particularly good for Europeans. At that time, Europe’s economy wasn’t
having a great time. These were years of stagnation and bad statistics. For example… Unemployment in the European Community’s
countries had practically doubled, going from 5.8% in 1980 to over 11% just five years later;
Potential growth had decreased by three points; Public deficits had begun to emerge with levels
above 3% And to make matters worse, the United States
had tripled their imports subjected to trade restrictions. Well, it was in this context that the idea
of building a true common market that would allow European nations to boost trade and,
subsequently, strengthen their economic growth. The idea was to create a market without barriers,
without customs, without tariffs, without restrictions for all goods. To do so, all administrative obstacles would
have to be eliminated and the disparity between rules and regulations ended. If a product could be sold in one country
of the union, it could be sold in any of them. But… not only that. A genuine common market had to work with the
same currency and with the same monetary policy. Among other things, this would prevent countries
competing with each other by devaluing their respective currencies over and over again. And that was quite common in those times. For example, between 1979 and 1992 alone,
Italy devalued the lira seven times. In just 13 years, seven devaluations! And what’s more, setting a common currency
would make trade between the European countries much, much easier. Companies would no longer have to look at
exchange rates, monetary policy decisions from different governments or currency risk
hedges, among many other issues. And, you know what? The creation of the single market has been
a clear example of success. It fulfilled its objective. Intra-Community exports have moved from representing
13% of the European Union’s GDP in 1992 to more than 20% today. And the volume of intra-community investments
has also skyrocketed. And, in all honesty, throughout this entire
process the euro has played a key role. The euro has now been with us for 20 years. What conclusion can we make? Has it been good or bad for Europeans? Let’s take a look. Folks, Europe has changed a lot in the last
20 years, in some cases for good and in others… let’s say not so good. But at this point, let me ask you a question,
yes, yes, to you. What do you think? Has the euro been good or bad for Europe? Well, folks, with the data at hand, I think
we can say that, in general, its influence has been very positive. We’ve already talked about it here on VisualPolitik. Now, the question is, how positive? Let’s put some numbers on the table
Nowadays, more than 340 million people use the euro and it has replaced national currencies
in 19 of the 28 states that make up the European Union. Since its inception, the euro zone’s GDP
per capita has increased by 52%, going from about 21,000 to more than 32,000 € and today
the work participation rate is higher in the euro area than in the United States. In spite of that, inflation has reached an
average of 1.7%, a rate lower than the ones recorded in the seventies, eighties or nineties. In fact, the eurozone’s inflation level
in these twenty years has been lower than that of the Federal Republic of Germany over
the same period of time. This might explain the euro’s huge popularity. Actually only 20% of Europeans are against
it. According to the latest surveys, three out
of every four European citizens have a good opinion of the currency and think that it
has been positive. [And let’s not kid ourselves, it isn’t strange
to think so. I’m sure that if you were offered to have
your savings in euros or pesetas – or in some currency that exists today and resembles
peseta – you wouldn’t think it twice.] But hold on a second, because not everything
has been sunshine. In the last 20 years the euro has also faced
some very hard times. Between 2008 and 2012 things became very difficult. The global financial crisis caused a lot of
problems in most Western economies, and true nightmares in some of the countries using
the euro, such as Greece, Ireland, Italy, Spain or Portugal. Clearly, that’s when the idea of the two
Europes emerged. On the one hand were central and northern
European countries, countries that have generally high productivity indexes, competitive industries
and relatively responsible leaderships. And on the other, countries that had historically
attempted to compete by devaluing their currencies. When this option was ruled out due to the
euro, they had boosted domestic demand through strong imbalances in their payments balance. So to understand this better, with funding
from abroad, basically from northern and central European countries. Financing that had been largely concentrated
in the real estate sector. We’re talking about countries where the
local governments didn’t implement any structural reforms that would allow them to be more competitive,
and whose banks were overloaded with loans linked to the real estate bubble… Loans that of course lost a lot of their value
when this bubble burst, which, obviously, put the banks against the wall. Greece, Portugal, Spain and Ireland – although
Ireland’s case is a bit different – required some form of financial assistance. At that time, the distrust and problems were
so huge, that, as you might have heard, there was speculation about the possible rupture
of the euro. Among other things because many European states
had to pay such high risk premiums that their situation was made completely unsustainable. They could not finance themselves. In the end, the member countries of the Eurozone
decided to do everything they could to avoid that scenario and it was then that European
Central Bank President, Mario Draghi, pronounced these famous words, on July 26th, 2012: This meant that the European Central Bank
would adopt extraordinary measures to stabilise the euro. It started to give longer term loans to banks
or buy a range of assets from banks including government bonds and corporate bonds, so that
businesses and people were able to borrow more and spend less to repay their debts. This has led to more economic growth. But, folks, at this point the question we
need to ask ourselves is, is the eurozone really prepared to face a new crisis? What could happen in the future if one of
the euro member countries has problems? Folks, over the last few years a lot of different
mechanisms have emerged and been implemented to strengthen the euro’s resistance. And that’s not all, existing institutions
such as The Stability and Growth Pact have also been reinforced. They/it requires a 3% limit on public deficit
and 60% on public debt from member countries. (“Within our mandate, the ECB is ready to
do whatever it takes to preserve the euro. And believe
me, it will be enough”. Mario Draghi) And also
by virtue of the Fiscal Stability Treaty, almost all European Union countries have included
the requirement of having balanced budgets throughout the cycle in their national legislation. [Let’s hope they respect their legislation]
The European Central Bank has also increased its capabilities to deal with emergencies. In short, as you see a lot of changes have
taken place with the aim of reducing the risk of crisis and, if necessary, limiting its
impact. The question is, are these measures enough
or should we continue to move forward, for example with a fiscal union? Right there, folks, is one of the great debates
that exist right now in Europe. But, just a second, crises aren’t the only
challenges facing the European Central Bank and the euro. The arrival of cryptocurrency and blockchain
have also raised questions: Will new financial technologies be able to
change the way money works? Do they pose a threat to traditional currencies? And this brings us to another very important
question: What about cybersecurity? Especially in a digital world. Folks, Europe is facing a lot of challenges,
some of which we have already talked about on this channel. Challenges such as aging populations, growing
international competition, imbalances in the public accounts of many of the member countries
or even defining exactly what European model we all want to follow. The European Parliament elections will take
place on May 26th. In one way or another, this is the moment
in which all European citizens will have the chance to raise our voices and decide what
future we want for Europe or what kind of union we want. So… Now you know. In the meantime, if you found this video interesting,
give us a hand by liking it. And once again, many thanks to the European
Central Bank for all their help making this video. And as always, thank you
for watching.

100 Comments

  • Katsuyo Akane

    May 24, 2019

    the euro has so many issues, many countries with vastly different economies and different development levels. it would be better if the Euro was killed. just look at Greece… Italy… Spain. thank god I dont use this dumpster fire of a currency daily, long live the £

    Reply
  • Ire Min Mon

    May 24, 2019

    Fuck the euro. I hope my country leaves euro sooner rather than later. Also, I'll take this as an ad.

    Reply
  • Helder Fernandes

    May 24, 2019

    Euro isn't that great thing you guys must know…. It has good for big countries like France and Germany…. But the other little countries with low economic budget just get even worst…. I give you this comparison… In France the minimal pay check for mouth is 1100 euros at least but in Portugal is 500 euros… And the price os products in all categories are the same… This a little example… It is even worst and European union is moving for us end at free fall… Italy is a clock bomb and its allmost over…

    Reply
  • Daniel M

    May 24, 2019

    VisualPolitik please don't disappoint me with these questions, unless you part of this cionist eurohypokrates. Such a horror to see few ECB employees like super Mario who's honor to bankrupt his own country and rewarded to be a ECB leader…the report shows clearly few faces of the 1%…

    Reply
  • Rakesh Biswas

    May 24, 2019

    The conspiracy to make EURO as world currency in alternative to DOLLAR has began.and you are working on it.how much money they paid you?

    Reply
  • Maverick Madison

    May 24, 2019

    this video is interesting but the background music was quite annoying, maybe you can consider to lower the volume of those music, we are here for the content not for the random loud music

    Reply
  • Leopold Birkholm

    May 24, 2019

    Well, I like the € euro. When my friend and I travel to Scotland to buy good whisky and well, be tourist. On the way from Stockholm, Sweden, we need Danish kroner, € euro and then the British £ pound. And boy, you need to have to check witch currency you are using. And all the coins! I use the simple solution to have four wallets, one for every currency (including my own Swedish kroner). One more thing that is good with the EU, is when my friend and I leave Germany there is a sign "Thank you for visiting Niedersachsen!" followed a couple hundred meter down the road it is a sign saying "Welcome to Netherlands!". That was the border, ehm, control? 🙂

    Reply
  • Michael Abbink

    May 24, 2019

    dont twist this shit its all about central power. in amerika u can vote fore a president. now europe only votes for there polititions local countrys. nobody of europe choose the euro president. i have to google owr president. we cant choose the owr euro president.

    Reply
  • Michael Abbink

    May 24, 2019

    they make owr rules and we cant vote for them. european countrys are to different… it is not nearly to compare to the states. thats why we need to take back owr own sovernty and money

    Reply
  • Grunst57

    May 24, 2019

    It is control. The opening statement suggested a "United States of Europe" One problem, the people don't want that.

    Reply
  • Kaneki Ken

    May 24, 2019

    Simon, need a Daily video from you(*^_^*)

    Reply
  • nicholin josia

    May 24, 2019

    yawn….

    Reply
  • bay

    May 24, 2019

    Hey VisualPolitik team, have you ever thought of making a series about what are the merits and demerits of each prime minister/ politician giving them a report card? Like if you want it too.

    Reply
  • felipe367

    May 24, 2019

    1:39 Aznar corrupto! And his successor was even worse!

    Reply
  • Damilare Durojaye

    May 24, 2019

    They didn't answer the cyber-security question.

    Reply
  • Locutus

    May 24, 2019

    The Euro should have been allowed to have die during the financial crisis.

    Reply
  • Frederik Jørgensen

    May 24, 2019

    Surprised they did not mention Denmark, Because Denmark have reservations against joint the eurozone

    Reply
  • Hubblebub Lumbubwub

    May 24, 2019

    A bitcoin today is a bitcoin tomorrow. It’s only volatile relative to fiat currencies. Mass adoption would increase stability.

    Reply
  • Elton Zhang

    May 25, 2019

    you're not covering the trading now?

    Reply
  • Patrick Daxboeck

    May 25, 2019

    The Euro is so successful, that no one sane in his mind wants to join it anymore. Where are the Polish, the Czech, the Hungarians ? And where would the Euro be, if the Swiss national bank would not buy the hell of European assets, shares, etc. becoming a major shareholder in many of the European leading corporations ? The Greek lesson has been learned by those who did not join and will not anymore for a while to come. There is a big profiteer: Germany. Now ask the French ! They are busy demonstrating for months against their president, a bought and artificially built up figurehead. Without significant democratic changes, Europe will have all kinds of crisis for decades to come. You can try to cheat like the central bank did by violating several principles and by controlling media (Why the heck do we get these extremely censor prone „copyright laws“, why ?) The only true democratic country in Europe, Switzerland is not going to join and the only contracts we share is because we are blackmailed and forced to and because our national bank is now way too much invested in this pseudo-democratic moloch. Can people regularly vote about European regulations and laws ? No ! Can people vote the European Commission (Which works similar like the central commitees of former entities on this planet) ? No ! Can people collect signs to propose constitutional changes ? No ! What can people actually do ? Vote upon faces where the official Biography is made up, who lie when they open their mouth, and who will ignore their voters once someone with deep pockets comes along and pays them for the next campaign. The European Union like the USA is not truly democratic. The leadership follows a few rich families who dictate with their deep pockets, their foundations and their networks, what will be going on. People realize this and so we face new waves of extreme censorship on all modern media. Censorship by algorithm, censorship by anonymous demonetization without reason, censorship by cutting people from funds. And what used to be reliable money you are now more and more being forced to have it as a digital number instead of paper. With the benefit that some deciders could just cut you from access to those digital numbers on a whim. When I was a teenager, I always wondered why dictators are so stupid and obvious. I imagined how I would do it, e.g. by winning elections with 50.0001%, by using front men in politics and keeping them on the financial dog lane. By publicly destroying unwanted persons by their weakness (sexual affairs, other wrongdoings, nowadays even their web surf history). And by „silent“ censorship which removes people for „extremism, hate speech, racism, etc.“. The European Union and the USA wit the current monopolistic media are the best demonstration of a very modern dictatorship cloaked as a democracy. And the best is always when I hear from someone that people are too uneducated and stupid to vote about laws … hell yeah ! Why does it work in Switzerland then ? Ok. I drifted far off, rant out.

    Reply
  • Konstantin Karouzakis-Heckendorf

    May 25, 2019

    This is a video apparently sponsored by the ECB.
    Congrats for the money you made and also for ruining this channel:

    Where is the critique on the structural deficits of the euro-system and the catastrophic effects it had on the economies of the South?
    Where is the counter-opinion to the ECB? Where are the concerns of millions of Europeans regarding the real purchasing power, that has dwindled in the past 20 years?

    Very sad to see that people in the EU still dont understand that this type of top-down propagandistic misinformation is 100% against the core democratic values of the European Union and the Western Civilization as a whole. It is this ill top-down propaganda – the fanatic refusal to recognize structural mistakes – that feeds the anti-EU nazis all around the continent.

    What will follow on Visualpolitik? An Erdogan-sponsored video on the positive effects of the Turkish invasions of its neighbours? A Putin-sponsored video on the amazing achievements of Russian Democracy? A Saudi video on the rights of women?

    Very disappointed by the course of this channel. It has clearly gone down the toilet in the past weeks.
    Unsubscribing now.

    Reply
  • Paul Houghton

    May 25, 2019

    The Euro will bring down the EU , the downsides of common currency outweigh the positives . 20 years is a drop in the ocean not enough time to be used as it's worked this far. No economist will admit to this like they won't admit that the current financial system is broken since the last recession negative interest rates should not be possible in Austrian economics.

    Reply
  • Giovanni Ficarra

    May 25, 2019

    Wonderful video, but I would have preferred to see much more debate and different points of view. Please consider it if you talk more about the Euro

    Reply
  • Kiran Kuppa

    May 25, 2019

    Sorry Simon, this is a very very bland video. There are many questions, few political that you have not raised. Also there is lot of handwaving with with low density of content per minute.

    Reply
  • Niklas Krüger

    May 25, 2019

    Euro is good for the EU very bad for Germany…

    Reply
  • Kim Jong Un

    May 25, 2019

    Do a video about the Indian elections.

    Reply
  • SubVersa

    May 25, 2019

    More like "We have created a currency that is a lie", your experts are full of shit.

    Reply
  • Sorin Preda

    May 25, 2019

    Save Euro, peg it to yuan

    Reply
  • mdjey2

    May 25, 2019

    Somehow I never get the same wage as I did in my national currency. I used to get 800 Lats and bread was 0.20, now I get 700 Euros and bread is 0.80. Electronics might be cheaper, but I don't need them as much.

    Reply
  • Time To Reflect

    May 25, 2019

    Yellows vest it is working too.

    Reply
  • Rusty Wells

    May 26, 2019

    Did you just say this video was sponsored by the European Central Bank and you're doing the objective story about your sponsor that paid for the video come on man!

    Reply
  • LordAcidious

    May 26, 2019

    Love Europe but hate its violent history!

    Reply
  • Anon E Mouse

    May 26, 2019

    So many consulting experts… from the ECB. Very one sided! Take away = "EU Good. Brexit Bad" "Euro Good. Crypto Bad." "Individual Countries Bad. One World Government Best." Yes – vote for the EU in the EU elections… so you can have the appearance of democracy! Without the Democracy! I usually up vote your vids – but this one definitely was one of the downvotes.

    Reply
  • Mario A. I.

    May 26, 2019

    Pure propaganda!!! It takes Monetary policy (Central Bank) AND a fiscal policy (Treasury) to create a stable economic bloc. ECB is responsible for austerity of Greece and a land grabbing, despotic institution that opposes anything liberal. Creating imbalances of trade surpluses and deficits. Does not provide any flexibility apart from contracting an economy under austerity. Everyone shall take a lesson from Greece! Leave as fast as you can or die from structural imbalances.

    Reply
  • Nyah Notrealname

    May 26, 2019

    Fuck the EU. Just saying.

    Reply
  • Joel Bento

    May 26, 2019

    MAGA 2020

    Reply
  • pte wilks

    May 27, 2019

    Shame you cant ask anything relevant as normal thick interviewers, does any body know anything dumb idiots.

    Reply
  • Simon

    May 27, 2019

    Hi! Can you do a video about the impact of the result of the election on the European policies ? It would be very interesting!

    Reply
  • OutlawsDead

    May 28, 2019

    Euro will collapse like all cmon currency did.

    Reply
  • Danish Hanif

    May 28, 2019

    Fake news. This channel only talks good things about US allies and against counties how don’t follow US policy.

    Reply
  • Francesco Dell'Orco

    May 28, 2019

    You don't have a really good opinion of Italy, have you Simon?

    Reply
  • sv1 rep

    May 28, 2019

    so euro is based on trust…hahaha

    Reply
  • alan jenkins

    May 28, 2019

    It is not a single currency that makes the US successful, it is a cultural adherence to capitalism and wealth creation. This also results in the most extreme divide between the rich and poor in the western world. It has also resulted in at least two world recessions.

    Reply
  • tanek

    May 29, 2019

    countries have been devaluating their currency because it was the way to be competitive. Before unifying the currency EU should have invested in developing the economy of those countries that were not as competitive as the most developed ones. They way Euro has been implemented has only created more disparities among the northern and the southern countries

    Reply
  • George B

    May 29, 2019

    Simon, great news Nigel Farage is being sent back even larger: Britexit here we come!

    Reply
  • A K

    May 29, 2019

    A very good step to go towards this form of journalism!!!

    Reply
  • Mendje Lire

    May 29, 2019

    Is Gabriel Greek? His accent sounds like yanis varoufakis's.

    Reply
  • Enda Rooney

    May 29, 2019

    Can you do a video on the Irish recession

    Reply
  • Kip Kip

    May 29, 2019

    So much for journalistic integrity Simon. Independence is key, it if flawed to let yourself be sponsored by the organisation that has most interests in the topic. Maybe let some politicians sponsor your next video about corruption in politics, the result will be probably just as comical as this video.

    I always cringe when we start with the Euro being the thing that makes the Eurozone richer and more stable – which clearly hasn`t worked all that well (crisis unbalanced deficits etc.) – and then we smoothly slide into the European needing to reform so the Euro is safe. The Euro should not be the objective, it could be a tool, potentially.

    It is frustrating to see you not asking any of the hard and confronting questions, when something goes wrong with the system (single currency), it is the fault of bad politicians (never the system). For everything good that might have happened the system is given credit where good politicians certainly played their role. You can`t cherypick from statistics and take credit, but when something blows up in your face blame it on something else. Politicians will use all the tools to make their stay in politics last as long as possible. If that means borrowing vast sums of money at very low – inproper – interest rates, they certainly will. Don`t blame the politician, blame the system.

    Reply
  • Sayan guria

    May 30, 2019

    If nations used euro in foreign trade that crazy guy Trump couldn't just sanction whoever he want

    Reply
  • Alex Daniel

    May 30, 2019

    This video makes me want to support Brexit even more.

    Reply
  • Spennie

    May 30, 2019

    Propaganda. The EU will turn to shit. The ECB's 2.6 trillion euro money-printing QE scheme means it's worthless and Germany will return to the mark when Italy goes ka-boom. Greece was only a snack.

    Reply
  • Victor

    May 31, 2019

    At least we are bound to the euro, but I wish we had the euro 💶
    /Dane

    Reply
  • Tristan Culpepper

    May 31, 2019

    Hey Simon, saying hey from the U.S.A. I love your work and was wondering if yall could do a video on recycling and trash in sweden. I have seen a large amount of articles on how they ran out of trash? Thanks for your time sir.

    Reply
  • F. Teixeira

    June 1, 2019

    EURO was fucking worth it, but bear in mind that PIGS countries are governed by ignorants and corrupts so European comission should have a constant close look over these toddlers parliments so they dont fuck up the countries and accept the tranparency and anti corruption european proposals, believe me, am portuguese. I rather have an european comission owning Portugal than our politicians!!!!

    Reply
  • Yuvraj Patil

    June 1, 2019

    Please do video on Sweden!!

    Reply
  • Shahid Jamal

    June 1, 2019

    Nice video. It seems E. U. needs a very robust financial model

    Reply
  • Priyanka Christina

    June 2, 2019

    €1=1.11$ wow……

    Reply
  • Hakwon R

    June 3, 2019

    What a shill channel for the Jewropean Masters

    Reply
  • Jennifer Rodolfo

    June 4, 2019

    This video is one long Euro advertisement. A lot of Euros rained on this channel.

    Reply
  • BandytaCzasu

    June 5, 2019

    The EU has higher labor participation rate than the US? I don't think so. Maybe you meant higher governmental employment? That would make more sense.

    Reply
  • BandytaCzasu

    June 5, 2019

    Low inflation in the Eurozone?!? Are you kidding me?!? Maybe when it comes to the prices of toothpaste, but for what really matters, like housing, the prices are rising like crazy. The costs of living have risen greatly in the Eurozone in this period.

    Reply
  • BandytaCzasu

    June 5, 2019

    There should be an annotation that this is a sponsored content.

    Reply
  • askadia

    June 5, 2019

    simplistic and superficial video telling things we europeans are listening to for 20yrs now

    Reply
  • Eoghan Callaghy

    June 6, 2019

    It was good for certain countries and not for others.

    Reply
  • Chilukar

    June 6, 2019

    6:12 was anyone else expecting all together now by the farm?

    Reply
  • artmasterpl

    June 7, 2019

    You forgot to add Montenegro they also use Euro currency but they are not part of the EU 😉

    Reply
  • ClickNSpam

    June 9, 2019

    ECB: Euro is good.
    What a shocker.

    Reply
  • antoine blanchard

    June 11, 2019

    11:03 like.. minigame *read all the contries before fade off. (aloud, off course)

    Reply
  • Steven Liu

    June 12, 2019

    Third pillars? They can put up ten more pillars for all we care, but without the fiscal union, the idea that a Euro is a Euro anywhere will always be a trick of the light. That "whatever it takes" remains forever qualified with "as long as Frankfurt can still pull out when the whole enterprise goes south." Since it is unthinkable for the stronger members to shoulder the responsibilities of a fiscal union without a political union, the whole enterprise still hinges on whether the Europeans want to be part of the United States of Germany.

    The designers of the Euro no doubt thought that it might be a price Europeans would be willing to pay to keep things like "economic prosperity" and "unprecedented levels of investment," but the actual political will had not seemed to lean that way. The thing is, economic indicators can make for very poor measures of human well being, especially when you are playing an economic card trick on the scale of the Euro. You can trick the miserable Europeans on the losing side of the Euro into thinking that the Euro isn't the cause of their misery, but you can't make them forget their better old days before all the "economic prosperity" and "unprecedented levels of investment" you have wrought upon them which have brought them quite the opposite of more well being in their daily lives.

    Reply
  • Dave Dörenberg-Veltman

    June 13, 2019

    As a European citizen what I believe we need is one language to communicate properly across Europe. They could have decided on what language for unified communication. They could have done this also at the birth of the euro to introduce it in schools and a decent unified European law and taxes. But they didn't like this thought because many people were afraid the European counties would become like states like in the US. A other thing is to remove the country letters of the license plates and only put the European union flag on it and change all road signs in one exact model (I know they look alike, but still). To really unify the European population they should make a lot of things equal in all those different countries. Something that is nearly impossible to do but not impossible. In essence it all means we all live in peace.

    Reply
  • SLR Vids

    June 13, 2019

    Impressive how you managed a whole episode about the EU and the Euro without a single mention of Brexit 😂👌

    Reply
  • ユーネ / Yuune

    June 13, 2019

    Overall € is a good thing

    Reply
  • ユーネ / Yuune

    June 13, 2019

    Euro needs monetary and fiscal union to work flawlessly.

    Reply
  • Riley Emel

    June 14, 2019

    good, but they need to be very careful about who they let in. looking at you Greece

    Reply
  • ANKUR GUPTA

    June 15, 2019

    Can India join also Eurozone ?

    Reply
  • Robert Rowan

    June 15, 2019

    They don't have rickshaws in Thailand.

    Reply
  • MR Tube

    June 16, 2019

    As an Italian i hate euro we want our national currency now
    Euro = mafia

    Reply
  • MrWalker1000

    June 17, 2019

    European financial crisis is an absolute disaster for the EU. Great thing? Not really

    Reply
  • borealis8uno

    June 17, 2019

    Euro is hated by those who have few in their pockets…

    Reply
  • edyocdtt1

    June 18, 2019

    So the euro countries can grow an debt as much as they want ans the Euro central bank has to save them ?

    Reply
  • A Jääskeläinen

    June 18, 2019

    I liked the the fun part about legislation at 20 mins ! Great vids!

    Reply
  • tanek

    June 19, 2019

    "if you go to bangkok and hand a euro bill they would gladly take it" … these genius people really know what the first concern of europeans are..

    Reply
  • Jerry Owston

    June 22, 2019

    Simply doesn't deal with the structural issues the Euro raises, nor of course the long term threats it poses to EU unity or the likes of Italy and Greece and probably Spain and Portugal.

    Nothing more than a glossy video that doesn't do anything but gloss over the problems

    Reply
  • Yux.T N.

    June 23, 2019

    maybe they should have a Northern Euro and Southern Euro? because the monetary policies in southern Europe and their conditions are very different compared to Germany and Netherlands?

    Reply
  • Anthony Oliver

    June 24, 2019

    European union complete and utter disaster … what a mess..

    Reply
  • Anthony Oliver

    June 24, 2019

    Thank god the UK is finally out , BREXIT

    Reply
  • Matt P

    July 12, 2019

    Put the euro in their bums, the pound is better.

    Reply
  • Matt P

    July 12, 2019

    The euro emerged as a first step to a European superstate. simple answer.

    Reply
  • Angelo Bugini

    July 29, 2019

    Euro, a success story? is definitely a pretty good video! I truly did appreciate it so much. Thanks a lot for sharing! Keep it up!

    Reply
  • chris Lambert

    August 4, 2019

    After watching this Iam further convinced the the EU is a Federal Project

    Reply
  • chris Lambert

    August 4, 2019

    All the so-called experts on this video were not independent they were on the Payroll of the EU

    Reply
  • idealsceneprod

    August 14, 2019

    It all sounds so great. And yet, with an inflationary currency, the middle class is gone, the wealth gap was increased, the super rich, are even richer. The time of decentralization is here. A central authority has only made a mess of things. Look at Deutsche Bank. Just a slap on the wrist for influencing the precious market l metals markets. More wars and displaced populations. More slavery. More need for welfare. A bigger nanny state. Their time is coming to an end.

    Reply
  • idealsceneprod

    August 14, 2019

    And just how do they calculate inflation? The official rate in the US is around 2% but in fact, depending where you are, it's actually closer to 10%.

    Reply
  • overcorpse

    August 26, 2019

    Pure propaganda. How much did the EU pay you for this horse shit?

    Reply
  • Zatocrew

    September 6, 2019

    People from Communications departments always look so fake.

    Reply
  • e gorsk

    September 26, 2019

    !! 100% BULL SHIT !! Euro currency is a spawn of SATAN himself the German Bundesbank SPONSORED BY GEORGE SOREASS, Its sole purpose is to take over the nation state and national sovereignty and enslave everyone in its zone . Brexit was a double middle finger from Brits to the German oppressors(BRAVO BRITS) . Greetings from Poland , fuck EU Fuck the Euro ohh and above all else FUCK FURHER MERKEL , grow some fuckin balls people and stand up these mother fuckers

    Reply
  • Gaurav Gupta

    September 29, 2019

    Video on: hard north Euro and a soft south Euro please ?

    Reply
  • Luke Dont know

    October 5, 2019

    Can u do why Australia’s dollars drop with the mining boom

    Reply
  • tizio caio

    October 14, 2019

    Hi guys, i m Italian and i have to tell y something: what the dude of the bank it s true, but in this context, with the free market the weaks will pay for all.
    I really dont know how the people can stay indifferent and blinded in comparison of this antidemocratic situation.

    Reply

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