EU wont break up. It is a huge market where Germany and France can dump their products and thus have competitive industries.
Also for the poor countries, they can get unlimited ECB QE which keeps their bonds super low allowing them to service their debts. In addition there is fiscal transfers in the EU, which means that rich countries pay up for poor countries to get them developed.
Why else do you think that so many EU countries are so rich? Its because the EU has been funnelling billions and billions of Euros to develop them.
So, rich countries get huge market with minimal competition to dump their products, and poor countries get money to develop. Win-win for both sides.
Obviously, the EU commission is always looking to federalize (EU army..) but it is still a long way off.
Also for the poor countries, they can get unlimited ECB QE which keeps their bonds super low allowing them to service their debts. In addition there is fiscal transfers in the EU, which means that rich countries pay up for poor countries to get them developed.
Why else do you think that so many EU countries are so rich? Its because the EU has been funnelling billions and billions of Euros to develop them.
So, rich countries get huge market with minimal competition to dump their products, and poor countries get money to develop. Win-win for both sides.
Obviously, the EU commission is always looking to federalize (EU army..) but it is still a long way off.