[lbo-talk] Why no world currency?

Dennis Redmond dredmond at efn.org
Thu Feb 22 15:07:20 PST 2007


Dr. Nicholas Ruiz 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.

Eurocapitalism is in the pink of health. Profit rates in the EU have risen sharply, EU firms continue to lead the world in sectors ranging from machine tools to telecoms, and rapid growth in Eastern Europe has more than offset slow growth in the West. In fact, it looks like a long wave of accelerated accumulation may be taking off in Eastern Europe and Russia.

-- DRR



More information about the lbo-talk mailing list