The currency regime that would succeed it would mean the re-emergence of the mark as the Continent's dominant currency and rule by the German Bundesbank, which is even less accountable to Europe's public than the European Central Bank.
We have come 180 degrees from 1968, when Kevin Phillips in his landmark political study of that election, "The Emerging Republican Majority, " noted that by virtue of capturing the loyalty of the anti-civil rights whites of the South along with a majority of voters from the nation's heartland, Republicans put themselves in a position to be the dominant party in the country after decades of Democratic rule.