There is more substance to the Euro than the dollar. Printing money with nothing to back it is much more of an American than European practice.

Germany is the biggest supporter of the EU because it is the only way that Germany can grow and become strong without people flipping out (since the two world wars are still at the back of public consciousness in Europe). It's worth it for them.

I don't think the Euro will collapse... having the Euro is the only way for the Europeans to have a currency to match the dollar in importance.

I feel very ambivalent about the EU. On the one hand I think we need it. On the other hand I am well aware that it is rather un-democratic, overly bureaucratic and inefficient. It could become truly terrible if things got out of control. And yes, it's very much about taking from the richer countries and giving to the poorer, but there is a certain amount of financial logic to it. It's not purely charity... It also allows European companies to have duty free cheap production in those countries that have the lowest salaries.

The EU is mostly run by the European Comission which is a meritocracy. You get a job there by taking an entrance exam and assuming you pass, using connections and every trick you can think of to get a job in one of the directorates Then you work your way up and some people become comissioners who set the policies for the EU. I was actually planning to work there until I started working in IT instead. Now I am not interested anymore.