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It's become a strong rival of the us dollar, replacing the dollar in the currency reserves of several countries. it's boosted trade and travel within europe to unprecedented levels. it's helped to lift former soviet bloc countries out of poverty. and yet, it's high value is killing european exports. the switch has been hard on millions of eu residents, even driving some out of business. it's become a scapegoat for many of the continent's economic woes, and it's also seen as eroding the sovreignty of member nations.
Was it a good idea for europe to adopt a single currency? will it work out in the longrun?
flossheal, that's interesting. I notice that British public opinion seems to be sharply against it, and British politicians consider it suicide to propose the UK adopt the euro.
That being said, some Germans have the impression that Britain does what it wants in European affairs because it's geographically separate, and that the UK is waiting to see if the euro will work out before adopting it. It's weird, because other Germans complain about the failures of the euro. I also know it was very hard on the Italians I've spoken with when that country made the switch. And many Poles are reluctant about their country's upcoming adoption of the euro.
It definately has its benefits, but I think the concerns of the European people need to be taken seriously, not dismissed so the continent can unify at breakneck pace.
It's true that the UK remains isolated in many ways due to its island status. And we also have the habit of looking west, to the US, instead of east, to the rest of Europe. These make it much less likely that we will adopt the euro in a hurry.
My reasons for liking the euro are quite shallow: I live in France and love being able to go to Spain without changing money - I wish I could do the same when I go 'home'! I also support a political party which has been much more pro-euro than the other British parties, traditionally. I have no patience with the Conservative Party which just seems to scream' Over my dead body!' whenever anything European is suggested.
True, but I can see why it might not be in the UK's best interest to adopt the euro. Britain may simply want to avoid having Brussels and Frankfurt make it's financial decisions, considering Britain has become as big, or in some cases bigger, of an investment powerhouse than Germany. Also, some eurozone countries have seem some pretty bad inflation. Germany, the Netherlands, and Italy to name a few.
But I think it's just a matter of time until the UK does adopt the euro, and I think in the longrun it will probably work out.
I personally don't think so only for one reason though. if the vallue of the euro drops off the charts, all of europe is going to be screwed instead of just a couple countries. but its been doin real good and should continue to do so. don't know much about the economic impact it had, but its kickin the sh*t out of the u.s dollar
well the idea was to compete against the U.S. and they've managed to do that... I think in the long run things will settle down and they will be able to compete better with the U.S. and other countries like China and Japan...
I like it. I can see why the UK, my country of origin, has kept out of it, but I hope they adopt it sooner or later.
I think its good because all of those countries have the same currency...its more simple.
