Another forgotten aspect is that the possibility of revaluing the currency has not allowed more virtuous countries to insulate themselves from the exchange rate instability affecting neighbouring countries, particularly in those which devalued. After the exchange rate realignments, Germany recorded in 1993 a recession comparable in size to that of France and Italy.
Another aspect that is also often ignored is that the return to a national currency is not an event comparable with a change in the exchange rate parity. It would involve a renegotiation of all contracts, especially financial ones, within individual countries and between residents of different countries, with conflicting interests between debtors and creditors.