Recognise the Euro? (The Euro)

Name: Nosferatu

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Product:	The Euro
Date:	18/05/02 (33 review reads)
Rating:

Advantages: As stated above

Disadvantages: As stated above

Theres a lot of confusion about this - especially for me. Don't get me wrong - I'm no patriot, but I do feel that the currency of a country somehow gives it a face on the world economy..an identity if you will. Therefore when reading this opinion you will have to bear in mind I'm ever so slightly again the Euro being used in Britain - although I will do my best to assess the subject analytically.

So, there must be two sides to every argument, or notion - so what are they?

For

1. Well, the first thing it would do is help to balance out Europes economy. Obviously having a common currency would help control inflation on a global scale, as well as posing many other possible financial benefits, such as continental banking - bringing me onto the possibility of heightened industrialisation across europe.

2. Obviously for a start it makes importing and exporting goods much easier, since exchange rates would no longer be a real concern in countries were using the same currency. This would obviously benefit industry as they would no longer have to worry about the value of the pound affecting the financial result of their trading. In addition, it means they can manufacture abroad at no extra cost - allowing them to produce products closer to the initial raw materials and sell them throughout the continent. Which surely would solve a major unemployment problem as the economy grows and makes more and more jobs avaliable. It would probably pose a benefit for national governments, since they would no longer be solely responsible for their economy, and wouldn't constantly have to worry about the value of their currency in comparison to others. This would save a lot of time trading on the world market. As a result, Britains trade relations would improve and business is more likely to be accomplished with forgein firms and governments for mutual continental benefit and continental economical growth.

3. It can also be argued
why is being in agreement about certain laws, (with regard to the European Union (EU)) so different from being in agreement on a given currency we can all use? The main problem I have is losing out national currency which we have had for so many years. But let us not forget that is forever evolving as politics do. We are no longer in the age of the six-pence, of the crown - and maybe it is time for the currency to evolve again into the euro. But revisiting my concern, I would be happy to settle for the use of the euro in overseas trading, maybe we could still keep the pound in our own country. This would grant us control, and as well as a continental economy, it would grant us our individual national one - so as well as being in control of our own country - we can also be part of a major global mass-economy that the new europe would become.

4. Also, think about it, perhaps the euro is not such a bad thing - after all. The things we are always in competition about, for instance the arms race would be laid to an end, or at least we would be able to assist each other in it, uniting the countries for perhaps a formiddable alliance, or even more preferable, a form of global peace, if you will. Maybe it is taking us one step closer to the humaitarian goal of world peace.

5. Britain may be seen as slow if they choose to deny the euro. They may develop a reputaion as being external to europe, and those nations who are accetiing the euro as the new currency.

However, as with all cases, there is an argument agaisnt the establishment of the euro;

Against

1. The People. People becoming part of the circle that recognises the euro may feel that their country is losing its identity - by surrendering its national face, its currency, and as a result, its economy. Maybe an extremist point of view, and in direct conflict with point 5 on the for side of things, but still a major consideration.

2. Control. The issue of control is,
in my opinion, the thing stopping some political bodies from adhereing to the euro. By having a contineltal currency, it makes them unable to run the country the way they want to. For instance the issue of inflation rises on this side as well, as they wouldn't be able to control this. They would lose control of the economy, and controls such as monetary and fiscal policies would not longer work.

3. Would the euro become valueless if trade became so easy? Things would lose their value to a certain degree. Due to the fact trade hd become so easy, the prices per unit would drop to such an extent there would no longer be a real copetitive market. Which would crush the new economy that had been created. Maybe the industrial side of things is not as promising as it looks to be. Again this would result in major unemployment!

Would it help us create an easliy sustainable trade cycle, or economy? There are many more points for both arguments, but unfortunately I don't have time to write about anymore. Thanks for reading, and please leave a comment!

~ Nosferatu

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