Thread by @Rob_Kimbell

Earlier today I exposed the failure of the EU single currency in a series of revealing tweets. Here they are. A thread. 👇

In 1998, the year before Portugal joined the €uro, the Portuguese economy was 5.8% larger than Thailand's.

Portugal's GDP is now fully 115.7% smaller than Thailand's.

World Bank, IMF.

Portugal's decision to drop the escudo and adopt the single currency devastated its economy.

In 1998, the year before Italy joined the €uro, the Italian economy was 17.2% smaller than the UK's.

Italy's GDP is now fully 39.4% smaller.

World Bank, IMF

The decision to adopt the single currency has devastated the Italian economy.

Blair wanted Britain to adopt the €uro.

In 2008, the year before Slovakia joined the €uro, the Slovak economy was 17.3% smaller than New Zealand's.

Slovakia's GDP is now fully 91.5% smaller than New Zealand's.

World Bank, IMF.

The decision to adopt the single currency has held the Slovak economy back.

In 2006, the year before Slovenia joined the €uro, the Slovenian economy was 1.1% larger than Belarus's.

Slovenia's GDP is now fully 10.7% smaller than Belarus's.

World Bank, IMF.

The decision to adopt the single currency has held the Slovenian economy back.

In 2014, the year before Lithuania joined the €uro, the Lithuanian economy was 9.8% larger than Serbia's.

Lithuania's GDP is now a mere 3.4% larger than Serbia's.

World Bank, IMF.

The decision to adopt the single currency has held the Lithuanian economy back.

In 1998, the year before Spain joined the €uro, the Spanish economy was fully 57.4% larger than Australia's.

Spain's GDP is now a mere 0.8% larger than Australia's.

World Bank, IMF.

The decision to adopt the single currency has held the Spanish economy back.

In 1998, the year before Finland joined the €uro, the Finnish economy was 32.3% larger than Colombia's.

Finland's GDP is now fully 21.7% smaller than Colombia's

World Bank, IMF.

The decision to adopt the single currency has held the Finnish economy back.

In 1998, the year before Belgium joined the €uro, the Belgian economy was 2.0% larger than Sweden's.

Belgium's GDP is now 2.9% smaller than Sweden's.

World Bank, IMF.

Sweden decided to retain the krona and stay out of the single currency, and it's paid off for them.

In 1998, the year before Greece joined the €uro, the Greek economy was 3.7% larger than Norway's.

Greece's GDP is now fully 94.9% smaller than Norway's.

World Bank, IMF.

The decision to adopt the single currency has devastated the Greek economy.