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Yes to create a stable currency union you need a fiscal union. The EMU is doomed and the Euro along with it.

The answer to the Zim problem is not the adoption of multiple currencies they don't control, though, unless they are just completely abandoning the goal of self governance altogether.

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"unless they are just completely abandoning the goal of self governance altogether."

That may be exactly what they're doing. Mugabe can't live forever, and his cronies could well be selling the country off to China, with an exit strategy in place to spend the rest of their lives in comfort in a third country.

They did have control over their currency and looked what happened. The big problem they face now is trust. If they came out with a new currency, no one would trust it enough to use it in everyday transactions. Regaining trust in the government and their currency will take quite some time.

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