<i>To create a currency union that&#x27;s sustainable, you have to commit to a fiscal union</i><p>I have come to agree with this. I was a supporter of the Euro and Emu since the 1990s, but I think I&#x27;ve been convinced that trying have a single currency without full fiscal union is folly.<p>You should choose to either have balkanised currencies, or a federal financial bucket, meaning the richer countries subsidise the poorer ones.<p>We went with Option C in Europe, and I don&#x27;t have a lot of confidence that the Euro can survive in the long run in the current system.