This was the main reason to why one should have waited a long time with setting up the EMU. The economies are so different that it was doomed from the start. One option would have been to let some economies that was in phase with each other and very similar in culture to join up in more local groups to start with and then maybe 50-100 years later make the last step and merge these local groups up into one big. In my opinion the EMU is good for no one at the moment and the small benefit of one currency does not in any way outweight the benefits for the economies to adapt more quickly. The countries that stayed out did right not listening to big business and special interest groups. Their only goal is to black mail every country into doing what they want. Just look at how much business was lost to countries like Ireland and Spain when they undercut other countries taxes. Makes me ill when I think about it since it was the well behaved countries that financed their infrastructure changes that made it possible for them to have artificially low taxes. This is not a rant towards those countries but rather to the rest that accepted getting their asses handed to them.