> Individual US states are pretty close to sovereign. Other than ability to tax and a few other things, the US federal government doesn't have much power.
But the idea of the geographical transfer of resources is there. While Texas may not want to refinance american banks, the FED doesn't care. Germany may not want to refinance Greece, and the European Central Bank can't enforce it. [0]
But the idea of the geographical transfer of resources is there. While Texas may not want to refinance american banks, the FED doesn't care. Germany may not want to refinance Greece, and the European Central Bank can't enforce it. [0]
>> While US states share a common fate
> Can you elaborate on what you mean by this?
It's a great question. You can get the best answer from the following article: https://www.stratfor.com/weekly/20100510_europe_nationalism_...
[0]: https://geopoliticalfutures.com/lehman-brothers-and-germany-...