The statement about Europe and Spain is not entirely true. Spain had large spending issues before their current depression, the debt of their football clubs is 752m Euro that is ridiculous. I am far from an economist but the view of the author on Europe seems a bit American. Trough the same way of this inflation system the Euro has brought great wealth to the Netherlands, once a high valued currency (the Dutch currency before the Euro) and the lower ones (e.g. the Greek currency before the Euro), where merged the Netherlands could export their products at a lower price, and they have made a lot of money this way.