The Euro: Past, Present and Future
Ice Torch
What were the legacy currencies of those countries that have adopted
the Euro? Here is a table that will give you that information:
http://www.worldofcoins.eu/forum/index.php/topic,5108.0.html
The Present
To see some well-presented tables of
1] Which EU states have adopted the euro
2] Which are next in line to do so (members of the European Exchange
Rate Mechanism, and those that are committed to join)
3] Non-EU members that use the euro (both with and without official
agreement of the EU)
4] Where the euro circulates outside Europe
5] Which non-EU countries have pegged their currency to the euro
visit this topic:
http://www.worldofcoins.eu/forum/index.php/topic,8713.0.html
The Future
To see a list of candidate and applicant countries to the EU, who
might be expected to introduce the euro in the future, visit the same
topic as above, but scroll right down to the bottom of the page:
http://www.worldofcoins.eu/forum/index.php/topic,8713.0.html
To see a table of which non-euro European currencies still remain (and
may perhaps disappear in the future), visit this topic:
http://www.worldofcoins.eu/forum/index.php/topic,4389.0.html
Ice Torch.
oly
Do you have a chart of which countries will drop the Euro first???
Greece, Ireland, Portugal, Italy and even Spain seem to be very highly
likely candidates.
I think Ireland has already (very recently, as in the last month)
broken the treaty rules and is printing Euros that they don't legally
have the right to print.
Drives the Germans insane!!!
oly
Beanie
"oly" <oly...@aol.com> wrote in message
news:fd18eece-3cd2-46ba...@s3g2000vbf.googlegroups.com...
Do you have a chart of which countries will drop the Euro first???
Greece, Ireland, Portugal, Italy and even Spain seem to be very highly
likely candidates.
I think Ireland has already (very recently, as in the last month)
broken the treaty rules and is printing Euros that they don't legally
have the right to print.
Drives the Germans insane!!!
~_~_~_~_~_~_~_~_~_~~_~_~_~_
The EU is already looking the other way on countries like Greece, Ireland etc
that are in violation of the Euro agreement.
It wouldn't surprise me if Germany opted out of the Euro and went back to the
Mark, they're getting tired of bailing out debtor nations.
Personally I view the who European Union as a presage to the end of days and the
appearance of the Anti-Christ.
oly
> "oly" <oly2...@aol.com> wrote in message
You may be surprised, but I don't disagree with that last statement
about "the end of days" and while I don't see B.O. as the big baddie,
he could be the "precursor" or one of the precursors.
I think you might see a strong "Northern Euro" and a weak "Southern
Euro" develop out of the present situation. The trouble is, France
will want to be in the "Northern Euro" but probably she doesn't belong
there.
oly
Ice Torch
then set an interest rate that best suits the conutry, whereas under
the euro, it's "one size fits all". So to that extent, I don't worry
about what happens to the euro.
It is be difficult to operate a single currency in a small continent
with lots of linguistic and cultural differences. A single currency
presupposes a single market, but if a Greek man is unemployed, would
he move to Finland if there were more jobs there? No, because most
Greeks cannot speak Finnish.
The French, surprisingly, do still have high worker productivity -
higher than in the UK. I don't know whether the euro will split or
collapse in the future, but in any split between North and South, the
French would certainly deserve to be part of the Northern euro.
Ice Torch.
oly
Yes, absolutely the best thing is to keep your own present national
currency. I'm certain that the Tories know this, Labour I'm not quite
so certain. I'm certain that Mervyn King knows it too, he's amazingly
honest for a Central Banker. Better than anything the FRB or the ECB
has.
FWIW, as an aside, I'm amazed that the U.K.'s present coalition
government has survived as long as it already has.
oly
Beanie
oly
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-==--=-==-======----
What's any of this got to do with the price of a bottle of pop in 1958? ;-)
Beanie
`---------`-`-`-`-`-`-`---------------------------------------------------
I have always felt the European Union would never last.
The countries themselves have been more-or-less continuously at war with one
another for more than a thousand years.
Germany, and to a lesser extent France, have relatively strong economies and an
outsized sense of national pride.
I don't think it will take too much longer for them to tire of bailing out the
weak sister profligate economies of Greece, Ireland, Portugal, et al.
It will become politically expedient for their leaders to back out of the Euro.
Once the stronger nations are off the Euro, the Euro itself will collapse -
bringing much of Europe's economies along with it.
The Balkan states, never stable at best, will revert back to their primitive
tribal warlike ways.
Russia, sensing an opportunity and still smarting from the collapse of the
Soviet Union, will engage in more European military adventurism heralding the
start of a new Cold War.
The USA will react to the Russians by increasing its military presence in Europe
and printing even more FRNs to pay for the build up.
All of which looks good for gold (and PMs in general) and bad for fiat
currencies.
Remember - you heard it here first!
Bremick
"Beanie" <b...@ea.ne> wrote in message news:ij6q89$gff$1...@speranza.aioe.org...
Is there any country left in the world that doesn't have a fiat currency?
gogu
news:e60a1f74-4b37-4005...@x1g2000yqb.googlegroups.com...
> As an Englishman, I am keen to keep the pound, because Britain can
> then set an interest rate that best suits the conutry, whereas under
> the euro, it's "one size fits all". So to that extent, I don't worry
> about what happens to the euro.
>
> It is be difficult to operate a single currency in a small continent
> with lots of linguistic and cultural differences. A single currency
> presupposes a single market, but if a Greek man is unemployed, would
> he move to Finland if there were more jobs there? No, because most
> Greeks cannot speak Finnish.
1) You would be surprised to know that there are quite a lot of Greeks in
Finland (and Sweden)!
2) In your line of logic, there shouldn't be Greek, Italian, Turkish,
Spanish and Portuguese "gastarbeiters" in Germany but there are quite a lot,
only Turks coming close to...3 millions!!!
And they went in Germany in the 50's and 60's when people (and especially in
Turkey) were much more analphabet than today thus they didn't speak the
language which BTW is one of the most difficult in Europe!
3) Then how do you explain the big numbers of Russians, Polish, Romanians,
Bulgarians, Albanians, Moldavians, etc who came to Europe to work?
Simply put I don't believe that language barrier is a serious reason that
can prevent immigration.
rgrds
Beanie
news:ij6tro$34o$1...@news.eternal-september.org...
> Is there any country left in the world that doesn't have a fiat currency?
Not to my knowledge.
Certainly there are countries that mange their fiat currencies better than the
USA (Switzerland for example).
The USA is still the largest single holder of gold reserves in the world, with
over 8,000 tons of the stuff, according to Wikipedia
(http://en.wikipedia.org/wiki/Gold_reserve).
The Eurozone countries combine to have more but the USA still lead individual
countries.
Germany, listed with about 3,400 tons, is in 2nd.
I was surprised to see Italy in 4th, with about 2,500 tons.
China just edges out Switzerland for 6th place with 1050 tons.
Given that China has a population of over a billion and Switzerland has around 8
million, I'd have to say the Swiss currency is probably better fixed than the
Chinese ;-)
At least the Swiss had enough sense not to get sucked into the Euro and the
coming financial fiasco it will engender.
oly
The people who should get "credit" for not getting sucked into the
Euro currency scheme are the British. Former Prime Minister Tony
Blair wanted them in it pretty damn bad. The Swiss, OTOH, had a long
tradition against such engagements. Switzerland wasn't even a full
member of the United Nations until late 2002!!!
oly
Ice Torch
> Ο "Ice Torch" <iceto...@rocketmail.com> έγραψε στο μήνυμαnews:e60a1f74-4b37-4005...@x1g2000yqb.googlegroups.com...
True enough, every country has a large number of immigrants who have
learnt or are learning the language of their new country. Compared to
the population of the EU as a whole, they are still in a minority. If
every EU citizen could speak every European language, they would
become more economically versatile - we would have a situation closer
to a national situation, where for instance almost every Briton speaks
English and can work anywhere in the country (well, except for the few
Gaelic-speaking and Welsh-speaking communities). Then the EU would
have the true prerequisites of a single market. I'm sure more EU
citizens would seek work in other parts of the EU if they could speak
the required languages. For this reason, I don't think we can ever
have a true single market in the EU. For the record, I once worked in
Germany for a year and spoke the lingo - but I doubt I'd be able to do
that in say Lithuania.
Beanie
=`=`=`=`=`=`=`=`=`=`=`=`=`=`=`=`=
Why put "credit" in quotation marks? It wasn't mentioned in my post. Are you
drunk again?
oly
> "oly" <oly2...@aol.com> wrote in message
>
> - Show quoted text -
Not drunk quite yet, thank you Mr. Bean, but thinking about that first
swig. Thanks for asking!!!
It's not about you at all; it's about me avoiding my usual dogamatism.
Having "enough sense" (the ability to make sensible decisions) and
being "creditable" (deserving honor or respect) seem to be the actual
case here, in my mind. You credit the Swiss, and I credit the British
for making the correct decision.
But I realize that there are the typical idiots who no doubt think
that wisdom would lie in joining the Euro currency scheme. I realize
the issue is not cut and dried. So I put "credit" in quotation marks.
But I am not doubting the gist or validity of what you said, Mr. Bean,
not by any means. I just think the British people deserve "credit"
for their better sense of national interests, especially since their
leadership was so incredibly duplicitous over the last decade or so
before May, 2010.
BTW, what are you smoking tonight???
oly
gogu
------------------
Well, I'm Greek and in the past I worked in our embassy in Bucharest so
today I speak Romanian fluently.
I also speak fluently Italian, so and so English a bit less Spanish.
No language is truly a real obstacle if you are motivated to learn it.
Anyway, I don't believe that a common language is the problem to have a
single/common market.
rgrds
oly
>
> - Show quoted text -
S/b "dogmatism" of course. I wish this puppy had a spell-checker!!!
I put great store in correct spelling.
oly
Beanie
>Having "enough sense" (the ability to make sensible decisions) and being
>"creditable" (deserving honor or respect) seem to be the actual
case here, in my mind. You credit the Swiss, and I credit the British for
making the correct decision.
British insularity is not a new phenomenon.
But I agree with you that they deserve credit for not falling into the Euro
trap - doubly so given the feckless leadership they have had.
oly
> "oly" <oly2...@aol.com> wrote in message
Agreed!!! Insularity is very good.
oly
Hans Goossen
> Simply put I don't believe that language barrier is a serious reason that can
> prevent immigration.
>
> rgrds
>
>
I think it IS, imagine how bigger will be the immigration rate if the
language wasn't a problem.
See Spain, many immigrants are from South America (spanish speaking)
countries.
Seeing from the other side, almost all people migrating from Paraguay go
to other spanish speaking countries like Argentina, Spain, Mexico.
hans
gogu
news:alpine.LRH.2.02.1...@localhost.localdomain...
> On Sat, 12 Feb 2011, gogu wrote:
>
>> Simply put I don't believe that language barrier is a serious reason that
>> can prevent immigration.
>>
>> rgrds
> I think it IS, imagine how bigger will be the immigration rate if the
> language wasn't a problem.
> See Spain, many immigrants are from South America (spanish speaking)
> countries.
This is different!
In this case we don't speak about a barrier but about something facilitating
immigration, language that is.
So in this case it's obvious that immigration is helped by the common
language.
OTOH, let's take the country of your example, Spain.
It has many Arab immigrants from Magreb even if arab language has nothing in
common with Spanish!
My own country, Greece, has many Arab, Pakistani, Indian and African
immigrants and certainly greek has nothing in common with these languages.
rgrds