The EU is generally worse off than the US at this point. European banks took on more leverage than US counterparts (hard to imagine), worse debt-to-GDP ratios for several countries, and worse bond market situation for several countries. Not to mention the fact that nations in the Euro have no control over monetary policy, which is why Greece should have left the Euro.
For now, creditors still have more faith in the US and also the US Dollar.
For now, creditors still have more faith in the US and also the US Dollar.
Why do you think that the EU is a federal state? The UK is not the same as Spain, Holland is not the same as Denmark. We're not the European version of the US.
