Optimum currency area?
There are many opinions about Greece, if the country should stay or leave the Eurozone, or the entire union for that matter. For a moment let us forget about the struggle of Varoufakis, Schäuble and Diesselbaum.
What is a optimum currency area? Do we have it or not?
Important aspects of a currency area is labour mobility across the region, capital mobility, risk sharing systems as taxation redistribution, similar business cycles across the region. Other things mentioned are homogeneous preferences, commonality of destiny – Solidarity.