One world currency

[BizGurl]

Theres a bit of talk right now about a single global currency, amid all the financial chaos. What impact do you think it would have on businesses? What would happen to businesses that rely on cheaper overseas labour, import cheap goods etc? Would it encourage more competition?

 

[akirk]

there was one - gold

didn't work - while there is corruption / greed / etc. etc. in individuals / businesses / governments then it will not work - you have to start with the concept of all wanting to pull in the same direction!

Alasdair

 

[Frankus]

The Eurozone is on the brink of total collapse:- multiply that by the number of other countries you'd have to include and what do you think it will look like?

I truly believe it would be the nearest thing you could imagine to all those disaster movies of post Armageddon Earth.

Wars, riots, global unrest nightmare.

 

[Kernowman]

Think on the positive side . . . . . . .

If we had a global currency, then it will speed up the queues in the post office considerably when there is no need for them to tout their foreign exchange deals and wasting your time, when all you went in there for is a first class stamp.

Every cloud has a silver lining

 

[leemason]

The Eurozone is on the brink of total collapse:- multiply that by the number of other countries you'd have to include and what do you think it will look like?

I truly believe it would be the nearest thing you could imagine to all those disaster movies of post Armageddon Earth.

Wars, riots, global unrest nightmare.

One thing I haven't yet got to grips with. If the Eurozone is near collapse as many people keep saying it is then why is the Euro so very strong against the pound? I few years ago you could by 1 Euro for 69p: now it cost 85p to buy one Euro.

If the Euro is near collapse then the Pound is obviously much, much worse!

 

[MikeJ]

The Eurozone is "close to collapse" because there's very different pressures on it from the different countries. Spain and Ireland are still struggling, while Germany is ready to power on.

 

[garyk]

Hideous!!!!

 

[An Oasis]

there was one - gold

didn't work - while there is corruption / greed / etc. etc. in individuals / businesses / governments then it will not work - you have to start with the concept of all wanting to pull in the same direction!

Gold did work and it worked far too well, hence they got rid of the Bretton Wood standard which linked the dollar to gold and all other currencies were pegged to the dollar.

Governments all over the world use this scam to rip off their public, that's right the people that they are ment to be representing they **** over as and when it suits. But don't trust me watch this video (it's part 2 http://www.youtube.com/watch?v=0Wrrzsrb-wg) if you have time watch part 1 first. http://www.youtube.com/watch?v=jyivy9jAg1o&feature=related

 

[leemason]

The Eurozone is "close to collapse" because there's very different pressures on it from the different countries. Spain and Ireland are still struggling, while Germany is ready to power on.

Sorry. I still don't understand why this makes the Euro such a strong currency against the Pound? Please explain how a currency "close to collapse" would be trading at such high levels of the International Money Markets? Whereas the Pound is weaker than it has been for decades.

We used to be able to buy $2.00 for a Pound (just a couple of years ago) and can now only buy £1.50, whereas if you live in a Eurozone Country a you can buy 74 cents for a Euro but used to be able to only buy about 60 cents per Euro. So we in Poundland are about 25% worse off whereas in Euroland they are about the same amount better off.

 

[MikeJ]

It's not "close to collapse" because it's weak. It's struggling because several countries are having an interest rate forced on them which doesn't suit the economic conditions of that country.

 

[leemason]

It's not "close to collapse" because it's weak. It's struggling because several countries are having an interest rate forced on them which doesn't suit the economic conditions of that country.

That is a local problem for that specific country and the countries that are in trouble would be in trouble anyway because their Government spending was out of control. If they had not been in the Euro they would have had to massively devalue their currency which would have had very serious effects for their economies anyway.

As it is they are forced into the sort of fiscal discipline which the best economies have followed for years which can only be a good thing.