Greenspan Says He Was Wrong About the Euro

The transcript discusses the European system, focusing on Germany's role post-WWII and its financial leadership in Europe. It highlights the imbalances within the European system, particularly due to the single currency, the euro. The speaker reflects on their initial skepticism about the euro and acknowledges its success, despite ongoing challenges.

What role did Germany play in the European system post-World War II?

• Germany was isolated from the European system.

• Germany opposed the European system.

• Germany financially led the euro area.

• Germany was a minor player in the European system.

What was a major concern about the European system mentioned in the first section?

• The system was financially stable.

• There was no political control over the whole system.

• The system was too small.

• The system was too politically controlled.

Which countries are mentioned as net financial exporters to southern Europe?

• Spain and Portugal

• France and Italy

• Germany and Luxembourg

• Netherlands and Belgium

What was the initial perception of the one currency system in Europe?

• It was immediately embraced by all European nations.

• It was seen as a great success from the start.

• It was ignored by most European countries.

• It was considered a terrible idea initially.

What was the speaker's final stance on the euro system?

• The speaker believed the euro system was a failure.

• The speaker thought the euro system was irrelevant.

• The speaker remained skeptical about the euro.

• The speaker acknowledged the euro system's success.