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Rod Hull and EMU
Member Name: Sparky101
Date: 19/11/00, updated on 19/11/00 (469 review reads)
Advantages: Help pan-European trade
Disadvantages: Lose of national identity
The Euro is fast becoming a bit of a joke. The European Union is constantly having to support it against other stronger currencies. It's gained a fairly bad reputation since coming into being and Britain I think was wise to steer clear for now.
Many countries in Europe like Belgium, Germany, France etc. are really trying to pull Europe together into a single entity but I think they're wasting their time. There are some many diverse cultures in Europe that finding any sort of commonality is very difficult. In an ideal world it'd be great if Europe became almost like the USA with each country being a state with it's own laws, taxes and so on but with a common currency and so on. That would give us a chance to compete on an more even footing with the States. However it'll never happen. This is why I think the Euro won't succeed. Countries have an indentity and their currency is part of that.
While joining the Euro will help some industries it will probably in turn hurt others. Most things like this will help one group and hinder another. I say, if it ain't broke don't fix it.