Earlier today I gave a Lecture at All Souls College, Oxford on the subject of Single currencies and political unions. I argued that a successful currency needs to be backed by a political union, which includes transfers between different regions or countries within the currency area.
I enclose a copy my presentation slides, which may be of interest to readers.
I then went on to debate leave or stay,mat a following seminar, and drew on the material in these slides
Slide 2: Better Off Out