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One global currency?

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Netanel
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Joined: Sun Mar 08, 2009 5:33 pm
Location: I live and die for allah For the pleasure of Allah

Re: One global currency?

Postby Netanel » Mon Mar 30, 2009 3:05 pm

Personally i think this is highly unlikley in our lifetime. The UK are already opposed to joining the single currency in Europe and can you imagine most countries giving up their financial soverignty?
I don't think the British public will oppose joining the Euro now since the Pound is nearing parity with the Euro

For the UK it not about the strength of the currency, rather the soverienty of Great Britain. I would argue 75% of the population are euro sceptic, the queens head on the note speaks volume. Also all leaders of the main parties have dissmissed the idea of joining the euro for the forseeable future.
The UK already gave up alot of their sovereigty on Lisbon Treaty, besides i personally think its only matter of time before they join the Euro
and become regular EU province that is run from Brussels not Westminister

Hoowle
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Re: One global currency?

Postby Hoowle » Mon Mar 30, 2009 6:11 pm

it depends. in an integrated world (free movement of goods, people and capital) then a single currency can be a good idea. the EU is case in point. however, if the exact opposite holds (economically non-integrated world) then a single currency will probably not be a good idea.

you also have to consider the lose of monetary independence. when you have your own currency you can affect the economy through monetary policy (raising/lowering interest rates) but you lose that under a single currency.

the REAL question is why aren't there more regional (like East Africa) common currencies?


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