b'Table 6 above shows the undervaluation and overvaluation of the euro compared with a (hypothetical) national currency, according to analysis produced by Bank of America.8 What the chart demonstrates is that a one- size-fits-allcurrency in reality fits almost no one. The undervaluations and overvaluations in the chart demonstrate how the euro has become an Economic Doomsday machine. The economy of Greece - and probably also Italy and Spain - cannot function properly in the same monetary zone with the same currency as Germany. It does not work.The economic profile, and more importantly prospects, for many EU member states - especially in Southern and Eastern Europe - are dismal. The conclusion is clear. Today, the UK would likely not choose to be in a political union with EU member states. 2.1 EU unemployment The EU as a whole is an area of, at best, low GDP growth. Within the Eurozone there has been economic contraction in 2009 and 2012. What is growing - quickly - is unemployment in the EU. In Spain, the level of youth unemployment averaged around 34.7% from 1986 to 2018, reaching a record high of 55.9% in February 2013.9 High unemployment is certainly not an indicator of high growth. It is probable, therefore, that the Eurozone economies will continue to stagnate. This is particularly true for the countries of Southern Europe. Only endless wealth transfers from Northern Europe can sustain these economies. While the establishment in Northern Europe favours these transfers, the political reality is that popular support for such transfers is unlikely to endure for long.28'