Some truths about the euro

We recognise the donkey in the "Animals sick of the pest": the source of the virus according to La Fontaine. The graph presented by Marine Le Pen during the debate between the five candidates to the presidential election on the French chanel TF1 on 20 March 2017 illustrates a modern donkey - the euro - the source of Europe's ills. The graph could/intends to show a link of cause and effect between the euro and the deindustrialisation of the euro zone's major economies, namely France, Italy and Spain, except for Germany, which benefited from it. This very simple approach deserves some... credit since it allows us to comment and criticise. This report makes five observations on the subject.