What do YOU think should happen to the Eurozone?

[Deus Naturae]

Break it up and get rid of the Euro. When you have one central bank (the ECB) financing the deficits of multiple countries, things inevitably degenerate into an endless cycle of money printing, deficit spending, and massive bailouts.

National governments can use the ECB printing press to finance their budget deficits (since the ECB lends money created out of thin air to creditors who buy government bonds), but the inflation gets spread out throughout the Eurozone, so everyone experiences the side effects whether they deficit spend or not. This results in a tragedy of the commons situation where every country has an incentive to spend as much as possible because the inflation is going to happen anyway (essentially, "If I don't spend/inflate, someone else will"). Then, when this ECB-financed deficit spending gets out of control, you have massive international bailouts, not to mention the inflation that's occurred over time from the money printed by the ECB to lend out to creditors. It's just a huge scam that impoverishes millions while enriching a select few: The creditors who deal the ECB funny money and the central bankers who facilitate it.

[Deus Naturae]

Also, why maintain the EU as a customs union? I'd say the rest of the world is more important in terms of trade than just Europe, so current EU member-states would probably be better off making trade agreements with other parts of the world, even if it meant having to temporarily renegotiate some trade agreements with other European countries.

[Deus Naturae]

On one hand they need some sort of integration to compete globally against the US and China in terms of security and trade, on the other hand, they are a wide range of economies, peoples and languages with a different set of fiscal and cultural goals.

Why do they need to be in a customs union to compete in terms of trade? It would probably be easier for European countries to make trade deals with the rest of the world if they could all do so independently instead of all having to do so through a single common trade policy.

What do you mean in terms of security? Does the EU have any substantial common military forces?

[Deus Naturae]

Would it help if they did?

No (assuming you're referring to an EU military force), but you mentioned security so I was wondering what you were referring to.

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My understanding is that currently, EU member-states cannot make trade agreements with other nations and must adhere to the common EU trade policy. So, I'm saying that it would be easier to make trade deals with non-European countries if they could act independently instead of having to rely on the EU to negotiate common trade deals with outside nations.