This was the genius (or good luck) of Hamilton. Taking on the debts of the US states at the federal level prevented this problem when switching to a common currency at the formation of the US.
Improperly conceived is more accurate. A strong political union is important for a common currency. They should have stuck with free trade and visa free movement ( not permanent relocation) for the level of political union they have.
Perhaps what the EU needed wasn’t a common primary currency but a common secondary currency that was used as a medium to convert currency between members.
Which is crazy.... in the US, a developer from Nebraska is just as expensive as one from California for any given company.
The location of the company dictates the wages ( costs of living), not the source of the developer.... (unless we’re talking an H1B visa sham hire which isn’t the same as your situation)
Printing money was alway the job of private banking in the US. Bank notes were used in the 19th century but sucked because podunk bank’s note wasn’t accepted in NYC...the federal reserve fixed that by centralizing all bank note creation to a consortium of reserve banks.
Plus they just release it when they die.... that’s not a solution for petroleum and coal based carbon since it was environmentally sequestered before we dug it up.
I think the technology is needed because I don’t think we have the capacity as a culture to stop emissions fast enough.
I am concerned that they are so focused on syngas because it just creates a cycle that doesn’t reduce the CO2 we have released..... eventually we will just use a technology like this do pull CO2 out of the environment but there can’t be a financial aspect to it.