(Yes, that was irony; as opposed to actually thinking in dollars then converting back to =A3 on the sly like mostly everybody else does. At the moment...)
I was thinking more about Belgium's work ethic, which is more nose- to-the-grindstone-variety opportunistic Protestant than submit-to- crown-and-church Catholic. IOW more like France and Germany than like Italy and Iberia. Come to that, more like England.
Belgium's lack of a government doesn't seem to hamper its business life.
A currency isn't the measure of the obtainable price of a country (economic unit)'s on-hand commodities, it's a measure of its potential productivity. That's why all the buzz about the Eurozone throwing certain countries under the bus, for non-productivity.
Belgium has always been productive despite/because of its "multiculturalism". I'd say the Belgian franc is a viable alternative to the Euro.
"Economic power" is productivity- the power to make stuff that people want to buy, or in some peoples' minds, to make stuff happen. America doesn't have the lock on that any more, if it ever really did.
(Everybody talks about an "information economy" but ISTM that won't work until everybody has a 3D printer that can build say a Vespa or a side of lamb. Ideas might then be as valuable as stuff.)
The "Arab spring" movement is largely about Islam, can we stipulate that? It's not just a religion you know, it's a lifestyle. The Eurozone pretty much tries to keep religion orthogonal to politics (I consider this to be an essential element of a "civilized" culture), with limited success so far. But I see some fairly broad lifestyle groupings per my above "fragmentation".
I could be wrong, but that's what I see from the outside.
All countries try, we just shove it from one economic stratum to another for a while but it winds up getting paid for eventually.
Doesn't matter, I think I see a worldwide "economic adjustment" fairly soon with a lot of large loans being defaulted on/"forgiven for considerations". Awkward in the short term but survivable in the long term.
Mark L. Fergerson