donfletcheryh
 |
We will never know what would have happened in Europe had the EUro not been launched. We can not say whether various countries might have been better off retaining their own currencies.
Any of the countries involved could have applied to their own currency the discipline that has been applied to the Euro. So we can not say that the Euro was needed to impose discipline.
However, with only a limited period of involvement, we can say that it has not been the resounding failure that some had predicted.
The fact that the value of the Euro has held fairly well has been a problem for countries trying to do business with countries that have had a sliding currency, like America, China. But the net effect appears to be tolerable. |
alcan52
|
Yes. So far its been successful. So much so that it was one of the main factors why we invaded Iraq 5 years ago. In 2000 Iraq started pricing their oil sales in Euro Dollars instead of US Dollars for the fist time since 1975. That began to destablize our dollar. We invaded Iraq and once we got control the first thing we did was reversed that policy and the US has priced that oil from Iraq in US dollars.
Also in 2001, Venezuela’s ambassador to Russia spoke of Venezuela switching to the Euro for all their oil sales. Within a year there was a coup attempt against Chavez, reportedly with assistance from our CIA.
Iran, has announced her plans to initiate an oil bourse in March 2006. Guess what, the oil sales will be priced Euros, not dollars.
Becaus eof this the Euro has become sucessful for the time being. The Euro still has the same problems as all currency today in the fact that it isnt backed by real money (gold and silver). It has other problems too and is the reson why it hasnt replaced the US Dollar as the world reserve currency.....YET.
http://www.lewrockwell.com/paul/paul303.html |
Kannan B
|
Yes for sure... Our south asian leaders also often express their wish to launch a common currency for this region also... So common currency will be a success one..
The euro is the currency with the highest combined value of cash in circulation in the world, having surpassed the U.S. dollar.
Moreover,
1) The euro is the official currency of the European Union (EU), used in 15 member states known collectively as the Eurozone (Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovenia, Spain).
2) It is also used in 9 other countries around the world, 7 of those being in Europe. Hence it is the single currency for over 320 million Europeans.
3) Including areas using currencies pegged to the euro, the euro directly affects close to 500 million people worldwide.
4) With more than €610 billion in circulation as of December 2006 (equivalent to US$802 billion at the exchange rates at the time), the euro is the currency with the highest combined value of cash in circulation in the world, having surpassed the U.S. dollar. |
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