The idea that the euro has „failed“ is dangerously naive. The euro is doing exactly what its progenitor – and the wealthy 1%-ers who adopted it – predicted and planned for it to do.

„It‘s very hard to fire workers in Europe,“ he complained. His answer: the euro.

The euro would really do its work when crises hit, Mundell explained. Removing a government‘s control over currency would prevent nasty little elected officials from using Keynesian monetary and fiscal juice to pull a nation out of recession.

„It puts monetary policy out of the reach of politicians,“ he said. „[And] without fiscal policy, the only way nations can keep jobs is by the competitive reduction of rules on business.“