Von Mises, Hayek, and before them Immanuel Kant, all promised that free trade and enlightenment would lead to world peace. The theory of the classical liberals was that the interconnection of nation to nation would make war too expensive and offend too many stakeholders to occur. Well, we’ve had free trade in some form or another for a few hundred years, and the degree of such “freedom” has increased significantly in the age of the EU and the Euro currency, but what we have seen instead of peace is a distressingly rising animosity between nations that were formerly friendly.
And why is that? Because they are unequally yoked and, for the Greeks and Irish and Icelanders, they feel as if their destiny is not their own. They are being asked to sacrifice several generations and their national wealth for the good of the European Central Bank and its nameless, mostly foreign investors. What normal self-respecting people would do such a thing?
Indeed, by tying together people with contrary interests, values, cultures, and blood, unhindered free trade and a currency union makes a European war more likely by undermining the independence of each nation from one another.