In a currency union fiscal transfers are a necessary. There will always be less productive countries which the richer countries will have to help. The problem is convincing the voters of the richer countries to pay for the rest, but what they need to understand is that the biggest benefactors of the currency unions are the exporting businesses of the rich countries.

One way to ensure that the necessary reforms are carried out, is to have common fiscal policy accross Europe but that will never happen because politicians don't like to give up power.

Unfortunately unless these changes happen the currency union isn't viable.