Walter Bagehot seemed to anticipate all our our modern policy dilemmas. Here he provides the optimal solution for the euromess:
Besides, it must not be forgotten that Germany will have a currency to choose: none of her many currencies are suitable to modern commerce; and she ought to have—and will have, we may be sure, ere long—one uniform coinage and one single money of account. It is very likely, considering her great intercourse with American and England, that she might choose to select the money which we put forward rather than that which France puts forward. In that case there would be one Teutonic money and one Latin money; the latter mostly confined to the West of Europe, and the former circulating through the world. Such a monetary state would be an immense improvement on the present. Yearly one nation after another would drop into the union which best suited it; and looking to the commercial activity of the Teutonic races, and the comparative torpor of the Latin races, no doubt the Teutonic money would be most frequently preferred. In this case as in most, the stronger would daily come to be stronger, and the weaker daily be—in comparison if not absolutely—weaker.
HT: Harold James
Update: Great comment left by “otto” below:
I can’t help but wonder about the opinion of U.S fruit and vegetable farmers on this point and whether, particularly if you asked them around harvesting time, they consider Latinos burdened with more torpor than Anglosaxons.