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The single dollar works for the US because it's one country. Even the Federal structure of the US was created with the knowledge that each individual State was part of a greater whole. One people, one language, etc etc.
The Euro won't work for Europe because it is many countries; many languages, many histories, many different values, and many peoples who never had the intention of being one people, despite what some grubby, empire-building, bureaucrats, bankers and politicians might prefer.
And the Euro won't last because when you have basket-case countries issuing the same currency as sensible ones, the value of the said currency must, by definition, fall to the standard of the lowest common denominator. Thus it will lose value both for the peoples of the sensible countries, and to those outside nations with whom they seek to trade.
Once it loses value for the wealth-producing nations, the Euro will no longer be viable, and that will very probably happen sooner rather than later.
What really puzzles me is how so many otherwise ostensibly intelligent people fell for the myth of the Euro in the first place...but then Europe has embraced some other fairly weird ideas this past century, so perhaps it's not so surprising after all.
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