Euro or not Euro, is there really no alternative? Here is the “debt-free” proposal
In the media, from time to time, the headline “how much did Italy lose with the introduction of the euro?” recurs. And again, is it true that the euro has slowed down Italy's economic potential? One of the many reasons given is: the adoption of the euro has also led to problems for Italy. The competitiveness of Italian companies has decreased compared to countries with lower labor costs, such as Germany. This has led to a reduction in Italian exports and increased competition from foreign products on the domestic market.
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Furthermore, the euro's single monetary policy did not take into account the different economic needs of individual eurozone countries, which made it more difficult for Italy to deal with the 2008 financial crisis and subsequent recession. After Brexit, parties or groups are springing up like wildfire that want to break away from “this Europe” which does not largely satisfy the “desires” of economic and social realities. I'll give you an example: after the release of Great Britainwhich still had its own currency – the pound -, now in Germany the far-right Alternative für Deutschland (ADF) party aims to promote a Dexit referendum. Probably the fibrillations arise and/or have arisen due to the lack of foresight or the imposition of alternative food (insects and “synthetic” meat) or carcinogenic wine or electric cars (and we are not yet aware of what and how to produce all the energy needed to circulate millions of means of transport) or why there is no fiscal equality in the various countries.
At the pour parler level, the differences in tax treatment of banks, companies and citizens in the various states are abysmal; just by way of example, just think of Luxembourg or Holland. Question: so everything boils down to simple money that is managed in an “imperative and impositional” way and legalized by the European Central Bank? Maybe that's the case or is it one of many other reasons? Many have ridden and still ride the idea of ”reviewing” these positions which, in my opinion, are untouchable, for the simple reason that we run the risk of dismantling everything. But then there is no alternative to the euro? Maybe yes.
POSTAL/PROVOCATION
If we start from the concept that money exists only because it is “accepted by convention” and produced from nothing, then why couldn't we introduce the “tax credit” into ordinary circulation, perhaps in parallel with the euro? And since everything becomes digital why not do it as if it were one cryptocurrency? Practically it would be like a “currency” where there will never be a real “collection” and therefore a debt for the State (today the State collects and pays in euros). Big question: would the issuing state become a central bank? Indeed, as already suggested previously, we could seize the opportunity and transform the Public Debt into a tax credit. Is there any law or directive that prevents this? This utopia, you can also judge it as a proposal/provocation, but at least this time I had fun doing it. Thanks for the attention.
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