Hayek on the Euro

“I started remarking against the idea of a common European currency, saying why not simply admit all the other currencies competing with yours, and then you don’t need a standard currency.  People will choose the one which is best.  That, of course, led me to the extension: Why confine it to other government moneys and not let private enterprise supply the money?”

F. A. Hayek, 1978, interviewed by Axel Leijonhufvud.

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So long as it is legitimate for government to use force to effect redistribution of material benefits – and this is the heart of socialism – there can be no curb on the rapacious instincts of all groups who want more for themselves. — F. A. Hayek

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