On Feb 22, 2007, at 9:57 AM, Nicholas Ruiz III wrote:
> The Euro is more about the protection of the representative value
> of the
> nations that adopt it, relative to the diminishing value of their
> respective
> national currencies, fast becoming worthless relative to questionable
> domestic production and profitabiity. It collectivizes economies on a
> representative basis, so their respective 'tiny' currencies don't get
> hammered by poor numbers and outlooks.
I dunno, Sweden and the UK aren't doing so badly.
Sure, part of the point of European integration has been to offer an effective counterweight to Europe and Japan - but part of that concept is adopting more American-style labor markets. Much better to do that through abstract means like a single currency and a distant ECB than having politicians explain it to their national electorates.
Doug