If you spun a globe and stopped your finger 12 times on 12 random countries, they just might make more sense for a monetary union than the euro zone.
That’s the conclusion from this awesomely clever chart showing the difficulty, and maybe impossibility, of the euro experiment.
Here is what this chart shows. Compared across more than 100 factors measured by the World Economic Forum Global Competitiveness Report, from corruption to deficits, JP Morgan analyst Michael Cembalest calculates that the major countries on the euro are more different from each other than basically every random grab bag of nations there is, including: the make-believe reconstituted Ottoman Empire; all the English speaking Eastern and Southern African countries; and all countries on Earth at the 5th parallel north.
And here is your tweetable fact: A monetary union might make more sense for every nation starting with the letter “M” than it does for the euro zone.
Ottoman Empire FTW.