A critical feature of the EU(European Union) in general and EMU in particular is that there is no legitimate way for a member to withdraw... The Amer… - Martin Feldstein

Unfortunately, several decades of Keynesian instruction on the virtues of budget deficits have left the public and our political leaders confused about the costs of running persistent deficits. [...] Keynes has been that influential defunct scribbler for the past generation. But who would ever have thought that the politician hearing Keynes's voice in the air might be Ronald Reagan

Although 50 years of European peace since the end of World War II may augur well for the future, it must be remembered that there were also more than 50 year of peace between the Congress of Vienna and the Franco-Prussian War. Moreover, contrary to the hopes and assumptions of Jean Monnet and other advocates of European integration, the devastating American Civil War shows that a formal political union is no guarantee against an intra-European war.

Instead of increasing intra-European harmony and global peace, the shift to EMU and the political integration that would follow it would be more likely to lead to increased conflicts within Europe.