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Euro: the world currency
Posted on 12/24/2001 7:19:19 AM PST by Jordi
The euro will become the official currency at the stroke of the new year in Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.
With three of the world's six richest countries and four of the richest 10 using the new currency, the euro is certain to become a key factor in global financial affairs. "It will be the second-most-important currency on Earth, right from the start," said Richard Portes, an international economist at the London Business School. "If Britain and other countries adopt it, it could be a challenger to the primacy of the [U.S.] dollar -- not in two years, but in 12, or 20 or so."
Britain, Denmark and Sweden are expected to hold referendums on using the euro within the next two years.
The creep of the new currency into border areas seems likely to make it more familiar to people in the holdout countries
TOPICS: Business/Economy; News/Current Events
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Again, move to the Euro,if you want a safe currency
1
posted on
12/24/2001 7:19:19 AM PST
by
Jordi
To: Jordi
and the euro is backed by what?
2
posted on
12/24/2001 7:24:44 AM PST
by
IRtorqued
To: Jordi
Let's see, the currency launches in 7 days. The virtual-Euro trades at a discount to the US dollar. Yup, that's "safe."
/sarcasm
3
posted on
12/24/2001 7:31:15 AM PST
by
1rudeboy
To: IRtorqued
a 10 trillion € GDP and over 300 million of people who save instead of spreading (see American squanderes and US' 300bn$/year trade deficit). Enough? Yes.
4
posted on
12/24/2001 7:31:23 AM PST
by
Jordi
To: 1rudeboy
Time will say the truth.
5
posted on
12/24/2001 7:32:52 AM PST
by
Jordi
To: Jordi
Oh, and you forgot to mention that Denmark is "expected to hold" a referendum on the Euro again. Second time is the charm, right?
6
posted on
12/24/2001 7:34:02 AM PST
by
1rudeboy
To: Jordi
7
posted on
12/24/2001 7:34:32 AM PST
by
Bobby777
To: Jordi
She: No.
He: I'm safe.
She: How do you know?
He: Time will tell.
8
posted on
12/24/2001 7:35:34 AM PST
by
1rudeboy
To: IRtorqued
Gold and 450 million tax payers....
9
posted on
12/24/2001 7:36:42 AM PST
by
robnoel
To: 1rudeboy
"Daddy , have you ever seen a US dollar?" "Yes , but if you find one , don't touch it. It's like toilet paper and toxic Americans use it to aspire cocaine"
10
posted on
12/24/2001 7:38:26 AM PST
by
Jordi
To: Jordi
To: Jordi
. . . 10 trillion € GDP and over 300 million of people who save instead of spreading (see American squanderes [sic]
and US' 300bn$/year trade deficit). Surely you meant to say a 10 trillion GDP that is eagerly taxed and spent on social programs and 300 million people who gladly accept US dollars (paper) in exchange for real goods?
12
posted on
12/24/2001 7:39:51 AM PST
by
1rudeboy
To: robnoel
Gold is good to make ear rings. There are better assets...i.e a house made of concrete instead of wood (see American countrymen). Of course, a big house made of concrete WITHOUT A MORTGAGE.
13
posted on
12/24/2001 7:41:22 AM PST
by
Jordi
To: Jordi
Read your #10.
Come over for health care or business advice sometime. c'ya
14
posted on
12/24/2001 7:42:28 AM PST
by
1rudeboy
To: Jordi
The dominant economic power has the dominant currency, and it isn't found in Europe.Take a guess where it's to be found.If the US dollar wasn't the world's currency, then there'd be no such thing as a dollar deflation, now would there??
To: LarryLied
Infact the US dollar is the most counterfeid currency of the world. "...don't touch it, it's like toilet paper..."
16
posted on
12/24/2001 7:46:02 AM PST
by
Jordi
To: Jordi
The euro will never have the penetration the Dollar has. Why? Well...right now, we're not exactly sure what's behind the euro. Is it a government? An NGO? What if the euro member states start falling out of their criteria for economic membership? Will they destabilize the rest of the euro-zone with its pan-European central bank?
The fact is, there are just too many questions to answer right now. And there will be too many questions for the foreseeable future. When you hold a U.S. Dollar, is it backed by the most stable government in the world. Walk anywhere on the globe, and you will find people holding and accepting the dollar. (it's even the currency in Cuba.) The euro is years away from making that even a possibility.
The only people who will be adopting the euro in full force are the criminals, who will find the 500 euro note a remarkably easy way to move and launder money. That's assuming they can get their hands on it, as the Germans will be cleaning out the hundreds of thousands of deutsche-marks from their mattresses and turning them in for new bills.
17
posted on
12/24/2001 7:51:28 AM PST
by
July 4th
To: July 4th
All of this, of course, assumes that Europe can make it through the switch without any major disasters.
The Great Euro Heist.
18
posted on
12/24/2001 7:53:28 AM PST
by
July 4th
Comment #19 Removed by Moderator
To: 1rudeboy
Let's see, the currency launches in 7 days. The virtual-Euro trades at a discount to the US dollar. Yup, that's "safe." How can you take the old individual currencies, each weaker than the American dollar, roll them together, add a new layer of socialist control, and come up with a "stronger" currency? It must be like the long-suppressed Detroit "miracle carburetor" that gets such good mileage, you have to stop and drain off the excess gasoline.
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