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[Rods2]

After the defeat of Napoleon, France tried to rebuild its influence and French Hegemony through a common European currency. This was based upon having different currencies but the coins having the same percentage of gold and silver content. It was called the Latin Monetary Union (LMU). However as there was no central authority overseeing it and no direct influence over each country's economic policies and widespread cheating on the gold and silver content of the coins in practice the system became increasingly non-viable. The system got into real difficulties in the early 20th century, with Greece expelled in 1908 for the blatant cheating on the Gold and Silver content of their coins! 

The 1920's recession put the final nail in the coffin of the system, so it totally collapsed in 1927. Doesn't this story sound all too familiar. Now let me think, where have I heard a similar story recently, are yes, the Euro

http://www.oliver-marc-hartwich.com/publications/europe-s-forgotten-lessons-of-history

[symes]

very true-unfortunately people don't always learn from history-until it's too late