Richard Rahn offers helpful advice to the EU comparing their situation to that facing America in the dark days before the constitution. Rahn makes a brief mention that the US Government has exceeded the boundaries of the constitution, but never considers if perhaps the US failure to keep the central government in check should serve a as a cautionary tale, rather than a modal, for Europe.

Rahn also praises the Euro for providing a stable currency and reducing transaction costs of trade between countries; of course, a free-market in currency would also accomplish these goals. If a single currency issued by a supra-national authority over a trade zone is good, then, by Rahn’s logic, a one-world currency issued by a world central bank would be even better.