Lack of political courage cost us money last week

Three years after the worst of the Greek crisis, Europe has done little to address the roots of eurozone problems.

Finance Minister Peter KazimirFinance Minister Peter Kazimir (Source: TASR)

You got a little bit poorer in the past few days. Your salary decreased too.

Amid panic about the coming populist government in Italy, the value of the euro fell and there is good reason to worry. Three years after the worst of the Greek crisis, Europe has done little to address the roots of eurozone problems. France’s Emmanuel Macron is pushing for big changes, including a European Monetary Fund, an EU finance minister and more shared risk. While opposed by Germany, such changes would almost certainly be a good thing for a small country like Slovakia.

When it comes to the euro currency, granting more power to Brussels, or the European Central Bank in Frankfurt, does not come at the expense of Slovak national sovereignty. On this issue the country doesn’t have much control anyway. It does, however, take power away from Germany, something you should want.

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