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The eurozone problem
As we all know by now the eurozone problem is that there's the one currency and therefore the one monetary policy. However, there isn't the corresponding one fiscal policy. This limits both the European Central bank and the national governments as to the economic policies they can deploy. Fiscal expansion in just the one country in a common monetary area won't work for example.
There is also the problem of a single monetary area and a single banking system to some extent and yet not really a single back up system for