The US has had a central banking system (The Fed) since 1913, prior to which government control of the banking system was left to the states. Few today would revert to the notion that such decentralization would benefit society. Yet today that is precisely the situation we find in Europe. The attendant anguish in Europe is palpable.[1],[2],[3]

As governments world-wide attempt to deal with the crisis, the need for a unified concerted effort becomes more obvious. Not just in Europe, but world-wide.