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Would a ‘North American Union’, similar in structure and policy to the European Union, be a good thing?

Suppose the USA, Canada, and Mexico (and possibly even other states) got together to form a “North American Union”..? There is a European Union. So why not the same thing with North America with its own currency, trade system, rules, etc?

EU is falling apart and if we include Mexico, we might have the same problems like EU has with Greece and the other PIGS nations Hving a country in different economic development is dangerous.

UK Trade Policy Minister Edward Davey on the EU-Korea FTA

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