Leading commentators have argued that the European Debt Crisis has been particularly damaging for the “European...

Leading commentators have argued that the European Debt Crisis has been particularly damaging for the “European Periphery” (e.g. Spain, Italy, Greece) because of their adoption of the Euro (common currency). Briefly sketch out the trade-offs involved in adopting a common currency. What are the main economic considerations that weigh on these costs and benefits?

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