Euro

[undsputed]

I'm agains the Euro but only because I'm American and would hate to see a currency that challenges the dominance of the dollar. One of my majors is finance and I'm actually writing a paper on dollarization, when a country drops its currency and adopts that of another country (like using the US dollar in Panama).

The Euro has some beneficial results. For one, it opens up the flow of trade. There is less risk that a firm faces when it does business with a country using the same currency (called foreign exchange risk). That's one less thing to have to worry about when doing a deal. Not only that, but increased trade should bolster the economies of the countries and lead to better living standards.

There are plenty of reasons to take it on. I think you Brits have a problem with it since the pound is such a dominant currency (stronger even compared to the dollar). Not that I blame you.

Also, when an area adopts a common currency, they may be subject to the same monetary policies. Isn't there some main central bank in Europe now?

Also, does the Euro dollars feature different countries on them or what is on them (like the US bills have George Washington)? If not much is on them, then it could take away from a country's identity and national pride. I mean I wouldn't want my bills with some French President on them :)

[Nyarlathotep]

It's crazy here, if you earn a good living, let's say 80.000 euro's each Year, you lose 45% of each euro you make to Taxes (Although there are alot of ways to avoid that). And we already had high taxes here, and now it's Even higher because of the EURO.

Regards

Eric E.

Eric, are you still doing highschool or something?

What u are telling about the taxes is totally stupid.

If you earned 150.000 guilders in a year, u had to pay 52% taxes over the biggest part of that.

Now, instead of 150.000 guilders u earn like 70.000 euro's and still pay 52% taxes over that.

THERE IS NO DIFFERENCE >:(

The taxes did not go up ::)

Correct... (Marcel that is) :)

And I don't see why people blame the Euro for the things to be more expensive. If we'd go back to our old currency, do you really think prices would drop ? Of course not ! It's the business in general that raised the prices, not the Euro..

undsputed, yes there is a central bank in Europe. And each country has it's own identity on the coins. The Euro bills are all the same. If every country would issue their own bills, things would be a mess as people in other countries would not be able to identify them.

[Khan]

I'm only anti Euro because all the reasons the EC said the Euro was a good idea (eg easy for travelling around Europe with just one currency) doesn't really apply to the UK because most English people only go on around one holiday to Europe a year. So it is pointless for the UK to have the Euro.

And like Nema said we pay for alot of European developments, we put in exactly the same amount that Spain borrows from the EU.

[Anathema]

Also, does the Euro dollars feature different countries on them or what is on them (like the US bills have George Washington)? If not much is on them, then it could take away from a country's identity and national pride. I mean I wouldn't want my bills with some French President on them

Countries still get to determin what they put on the back of their coins.

[Terror]

no that's not the problem.. and euro's look fine.. you will have to adept to the new value though.. and some people STILL cannot manage that..

[Anathema]

Quite strange really, considering all the money the Dutch goverment puts into campaigns to educate the people about the euro.

[Caid Ivik]

I have all money in slovak crown, which is still strenghtening, but our National Bank wants to keep it on its low status for exporters. Horrible. I will transfer it all to euro, which is now over dollar. Soon, European Union will be the first in all-world financial markets. Euro will also eliminate special cast of mafia, which we call "vexlaci".

[Guest Eric E.]

It's crazy here, if you earn a good living, let's say 80.000 euro's each Year, you lose 45% of each euro you make to Taxes (Although there are alot of ways to avoid that). And we already had high taxes here, and now it's Even higher because of the EURO.

Regards

Eric E.

Eric, are you still doing highschool or something?

What u are telling about the taxes is totally stupid.

If you earned 150.000 guilders in a year, u had to pay 52% taxes over the biggest part of that.

Now, instead of 150.000 guilders u earn like 70.000 euro's and still pay 52% taxes over that.

THERE IS NO DIFFERENCE >:(

The taxes did not go up ::)

Correct... (Marcel that is) :)

And I don't see why people blame the Euro for the things to be more expensive. If we'd go back to our old currency, do you really think prices would drop ? Of course not ! It's the business in general that raised the prices, not the Euro..

undsputed, yes there is a central bank in Europe. And each country has it's own identity on the coins. The Euro bills are all the same. If every country would issue their own bills, things would be a mess as people in other countries would not be able to identify them.

hello,

In the netherland you will notice if you are an experienced bar and restaurant visitor. Some would not even change the price tags dfl 1,- ==>

[Nyarlathotep]

Eric E, so is that caused by the bar owner or the Euro ? I'd say the bar owner.

[Guest Eric E.]

Exactly my point. I said the euro made the prices go up, I din't say the ''euro'' itself is is the thing to blame. But because of the euro, sales men get the oppertunity to abuse it and raise the prices without ''you'' noticing it.

Regards,

Eric E.

[quoudam72]

So really what are the pro and cons of the Euro that any one individual here can see?

[Edric O]

The silly thing is we pay the europeans a lot to build them roads and stuff, while we have worse transport than any of them, and because we are supposeddly 'richer', we are taxed by europe more, and get less, even in areas in which we are lacking.

Nema, you're being hypocritical here. This blatantly contradicts your views on capitalism and the economy in general. By paying those taxes, you are giving money to the people who need it most. It seems perfectly fair to me.

[Guest Eric E.]

Hello edrico,

That would be nice if tax money would go to those who need that most,

on the contrary: if you are not capable of finding your way through these hypocrites, you will end up empty and homeless.

[Caid Ivik]

You are truly loyal socialist, EdricO! ;D

But problem is that European Union is still more and more like an unite state. Unite state must have unite currency, also economically balanced regions to prevent future conflicts. And only Britons are so egoistic to insist on their pound.

[nemafakei]

Ah, but Edric, the money is being mismanaged.

Of course, I would like the whole of the EU to be replaced, but I'm looking at what's rational *within* the system.

And nations with poor transport, but high taxes funding transport of nations who tax little, but with fairly good transport layout is unethical. It's like the hardworkers paying the lazy because hardworkers have more money.

[quoudam72]

So what would be rational within the system Nema and just how is the money being mismangaged. I think a united Europe is a good thing.

[Guest Eric E.]

Very well said Nema.

[Marcel71]

U know what a good economy is? It's a stabale economy.

As most of u know, in Holland we had a real noncence government which fell after not being working for 3 months. Imagine what that would have done to the guilder..

One of the reason prices went up is that the guilder was not correctly balanced when it was coupled to the euro.

And as nobody gave the answer why EU was made, i give it to you: PEACE !!!!

PEACE gives a stable economy. I mean France is not going to attack Germany (or vise versa) because they would hurt their own pocket money.

The cickle of money (big picture)

People get money -> People buy products -> products will be made in factories -> people will get jobs -> people get money -> people save -> banks invest in new industrie -> people buy new products -> people get jobs -> etc... -> etc...

That's why it is important to give non employed people money.. They can buy stuff.... Which will get other people to work again..

That is also why it is important Euro countries are extended with the new countries (if they off-course will have some basic things arranged).

Those people in the countries with less economie will get better economy when they get euro. It means, they will get jobs, they will buy stuff etc..

IT IS VERY IMPORTANT WE HAVE EURO AND EU IS EXTENDED WITH OTHER COUNTRIES....

We (in The Netherlands) should fall on our knees and praise the euro. Just imagine what would have happend to our guilder now we had babies ruling our country >:(

[Guest Eric E.]

There is no productive gain whatsoever in consumption by the unproductive.

Or should it be that they are blackmailing us with destruction ?

not a bright picture.

Countries like holland have a conservative tradition in handling their currencies.

This now went down the drain with countries joining the euro like france, italy and greece.

And germany seems to repeat it's own history after the ruddy prussians responsible for the weimarer inflation disaster also joined.

Regards.

[gryphon]

About the Euro, I don't really what currency I'm paying with. On the political level of it I would like to see Europe united with the individual aspects of the "states" in it preserved.

But why all that fuss about Europe. We did it a few years back. Formed the BeNeLux and non of our neighbours cared ;) Now when all those other European country's have the same idea we should adress it as a new idee ? ;)

[DjCiD]

Why not just have a Global currency? Oh yeah that will sit good with the guys at the NWO... that was thier plan ;)

[Dude_Doc]

Don't worry. First, Europe, South America, North/South poles (if anyone lives there :P), the Middle East, Africa and Asia will have to change to one continental currency. Then, in about 50 years from now, they will sure start talking about a global currency. Then, when we colonise Mars, it will repeat itself, and then we will have Duo Planetary currency, then trio, then etc. And in the end we will build some Empire or something with one currency. That's how it will work. Sensing the future already huh :P?

[DjCiD]

If the sky doesnt fall before then ;)

[Marcel71]

There is no productive gain whatsoever in consumption by the unproductive.

Regards.

Hehe, Holland is also not as productive as you think we are.. Holland does not produce much, we are a transport country. And our biggest export is to Germany.

or should it be that they are blackmailing us with destruction ?

What noncesense are u saying here. Like the three russian states, it would be great if they join EU, it minimalizes the risk of war in that area drastically (or are u for war)?

Countries like holland have a conservative tradition in handling their currencies.

Obviasely NOT !!! Who is president of the European Bank? Yes, a Dutchman. Don;t come with some bullshit statements, people might get convused..

This now went down the drain with countries joining the euro like france, italy and greece.

hmmm, little shitty holland would not manage without France and Germany. Greece and Italy got a much better economy then before, which is also good for the euro and for holland.

And germany seems to repeat it's own history after the ruddy prussians responsible for the weimarer inflation disaster also joined.

Hehe, it's great West and East germany went together. It will only strenghten the euro...

And remember, deflation is worse then inflation.

Actually a bit inflation is great, the debts of people will get less automatically ;)

[undsputed]

Inflation is bad :) ....usually. It does help the borrower but what if you are the lender?

Not to mention instability in prices. Try checking out a country like one in South America or some other third world place. Germany experienced hyperinflation following the wars I think. It was something like 1000%. Some people needed wheelbarrows to purchase a loaf of bread :)