Socialism tends to breed laziness just as capitalism tends to glorify greed. It helps to establish the limits of these ideologies when you experiment with them.
The outcome of the recent EU parliamentary elections happened because of the debt crises that started in Greece. Simply put, EU’s debt crises happened because the EU and its single currency is a socialist expression of a capitalist desire.
Most EU member nations and their people treasure the social justice, welfare and equality socialist governments pursue. They detest individualism, competitiveness, and the desire to excel, which are the very traits of one who would most likely excel in a capitalist society. While most Europeans admire the socialist agendas, they love and crave for the improvements and amenities capitalism bring.
I think the Euro is a necessity for post-Cold War Europe in this day and age of globalization. The idea is not to “make a Greek into a German or a Spaniard into a Swede” but to make them all Europeans. Socialism has its limits and it cannot change the culture and values of a nation and its people. There are worse alternatives to having a single currency for EU members.
The Greek debt crisis officially started in Oct. 2008 when the global recession arrived in Europe. This recession started on April 8, 2008 as the subprime meltdown ricocheted from Germany. See: 2007 Perfect Storm Over Europe and Financial Dunkirk Revisited – https://www.nedmacario.us/2014/05/31/2007-perfect-storm-over-europe-financial-dunkirk-revisited/
