Should they get rid of the Euro?

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Should they get rid of the Euro?
Tweet Topic Started: May 10 2012, 11:21 PM (923 Views)
+ Pelador	May 10 2012, 11:21 PM Post #1
Crazy Awesome Legend Posts: 25,663 Group: Legend Member #4,634 Joined: December 12, 2009 Gender Not Specified Country None Favourite Anime HunterxHunter What Browser do you use? Firefox Favourite Manga Dragonball	I was watching a topical debate programe earlier and one man on the panel suggested that if they scrap the Euro currency then the economic problems in Europe would disappear over night. I don't believe he literally meant over night. Of course that would be a ridiculous notion. A major currency cannot be recalled over night. But basically what he meant was that we would quickly see improvement economically if everyone reverted back to their original form of currency. I personally do not believe this to be true. I don't think the problems were caused by the Euro. It was caused by people misusing it. It would have happened with any currency. Some countries might even have been worse off. I think that reverting back would solve nothing. Instead they need better legislation to protect economies and jobs. Otherwise it would only happen again.
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* Bex	May 11 2012, 05:53 AM Post #2
★ Bextreme Dream ★ Posts: 9,435 Group: Retired Staff Member #1,545 Joined: July 5, 2006 Gender Female Country United Kingdom What Browser do you use? Google Chrome	Put simply, economic damage doesn't go away by printing more money or changing the currency. All they'd be doing is converting Euros back into Francs and other former currency, they can't just suddenly go "Oh, a Franc is worth this much more than a Euro currently is" cuz that makes no sense and isn't how things work. In terms of a global thing, even though the Euro is pretty weak and fragile as a currency at the moment, I hardly think the currency they'd get to replace it would be more powerful, it'd be a marginal difference at best. I mean take the UK for example. When the coalition government came into power in 2010, the value of the pound dropped because people were unsure whether the country was actually stable enough to rely on the currency. So if you've got a bunch of countries like France, Spain, Ireland, Greece, Germany etc all abandoning the Euro to go back to their old currency, what does that tell you about their actual strength? Their old currency just crashed so surely their new currency would be worth very little compared to what it once was. But that's just speculation, I don't actually know how it works. All I know is changing the currency in the thought of "all our problems will disappear over night" is the stupidest thing I've heard about global economic matters in the last 5 years. It's as if people haven't been suggesting that for ages anyway. Yeah it's possible to do, but it wouldn't fix what's already broken. It just makes the debt seem slightly less worse or even more worse off based on the actual value of the currency. However, I think they should scrap the Euro. My point being is that they have proven that the entire currency was set up based on lies and now they're in a massive hole. If they couldn't make the currency work from the start, why bother with it at all? It's a complete waste of time for people to design a new currency for Europe when most of the countries in Europe that applied lied about their finances.
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* Yu Narukami	May 11 2012, 07:38 PM Post #3
Izanagi! Posts: 12,330 Group: Retired Staff Member #6,446 Joined: July 3, 2011 Gender Not Specified Country None	It's never worked before. The only time it did work is when Streseman changed the German currency in 1925 after the period of Hyperinflation. The only reason it worked is because Streseman depended on loans from America and under the surface, Germany was a shaky, dangerous place with a failing economy covered in a nice blanket. The change into the Euro yielded some success, but look what happened then. Changing it to something else, in the best scenario, would have the same effect. Europe can't risk changing it's currency right now, with the Whole World being shaky economically, they wouldn't have much support from anyone if the transition were to fail.



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