Devaluation was not an option. So in 2011, unable to withstand pressure from France, Germany and the financial markets, he was replaced by a technocrat, Mario Monti.
Look, too, at the track record of EU Member States. In 2020, Germany’s highest court ruled on subordinating EU law to German law. The EU took no action.
Tensions – political, economic and otherwise – have been exacerbated in the eurozone, as it tries to navigate the pandemic.