Euros - how long can the Euro currency last?

[Staga]

Originally posted by Ripsnort
Staga must be devastated!

I'm speachless; your wit and intelligence are stunning

[mora]

€uro is the best thing that has came from the EU. Gotta love the convinience. There's really nothing wrong with it from my POV. I can't even imagine what this country would be like without the EU. 10 times worse socialist hell hole most likely, something like Norway, but without oil.

[mora]

Originally posted by scott123
love it,or hate it the euro is here to stay.

Ditto.

[aztec]

Originally posted by BUG_EAF322
U americans want it to be easy targetted under one label.

This American could not possibly be more indifferent.

Generlaties suck.

[Edbert1]

Originally posted by BigGun
Not possible for all currencies to decline. They are relative to each other. If one is weaker, then by definition another has to be stronger.

Agreed 100%, and it is the Yuan which is gaining strength at a rate above and beyond all others.

[RedDg]

[FalconSix]

Originally posted by beet1e
It's ridiculous for anyone to say that economic conditions in say Greece are the same as those in Ireland, or that the Italian economy is the same as  the Finnish economy. All are different, and those which are booming need to raise interest rates, while those struggling need to lower them. With the "one size fits all" Euro, such measures are impossible.

That is exactly what the EU is all about. Creating a Europe where the economic conditions in say Greece ARE the same (or close to) those in Ireland and everywhere else in the EU. Do you think the economic conditions in say Alabama are the same as in California? Still the USA is one federated union with one single currency and interest rate. America did it, why can't you?

[beet1e]

Originally posted by FalconSix
That is exactly what the EU is all about. Creating a Europe where the economic conditions in say Greece ARE the same (or close to) those in Ireland and everywhere else in the EU. Do you think the economic conditions in say Alabama are the same as in California? Still the USA is one federated union with one single currency and interest rate. America did it, why can't you?

Indeed, America did it - but with a federal government collecting federal taxes and making federal grants, and everyone speaking the same language. America formed the 50-state union over a period from 1776-1959. That's more than 180 years in which the country had time to assimilate the new states. (AZ was the last mainland state in 1912) Compare that to the EU, which last year had ten countries join on the same day!!!

And no, you're never going to make a Greek out of an Irishman, or a Paddy out of a Greek. Most  EU countries have their own language - that in itself means that people are far less likely to migrate from say Greece to Ireland than  from Pennsylvania to California.

I myself have considered setting up home in France or Spain or Italy. The #2 obstacle would be the language difficulty. OK, I think I could learn any of those languages with a good effort, but it's doubtful that anyone doing that could expect simply to blend in with the indigenous population. And that's the #1 obstacle. I had an apartment in Antibes, France, and believe me - I know what I'm talking about.

[Schutt]

Originally posted by beet1e
This is just a question/debate for the Euros who have the Euro currency. All others - nothing to see here - move along!

Sounds like Germany has been suffering badly - I heard that unemployment has reached 11.6% (can't be arsed to post a link). Some Germans being interviewed on the radio are saying that whereas they used to be affluent, now they're struggling to buy necessities. And Mercedes Benz has been suffering - others have said on this board that the quality/reliability is slipping - I guess they're feeling the pinch too.

I really have to disagree here. The problems are in my opinion:

1. The reunification did cost... still not payed AND lots of the state property was transfered to private property, giving Germany a loss of billions of euro and giving property/ value to companies and buisnessman.

2. eastern germany had a "hidden" unemployment potential, the "vollbeschäftigung" (work for everyone): A lot of people on jobs were not working full or working on jobs that didnt create value. While its good when everyone has work it is not economical in capitalism.

3. Calculation changed, giving 1 to 3 percent more unemployed in the numbers than before... before they were getting social aid, now they are unemployed.

4.Big Companies mismanagemented to gain max profit in short terms. That wont work out long term but gives best short term value of the shares. Instead of sound product planing, new inventions, finding new markets, educating their workforce and using what they have they just kicked off guys and showed a short term profit. Hell... smaller company wont give more profit in the long term. Every worker can generate profit for the company, it can not be profitable to kick em out. Only if you cant manage them.

5. daimler made management mistakes, buying japanise companies and selling them again with huge losses, producing cars that are totally useless and not what the market needed etc. Now they clear up their bilances by kicking off workers and producing somewhere else. NOT long term effective, none will want mercedes not produced in germany, due to bad management they sell to few cars and now pretend to have better profit with less workers. NOT bigger company value, which would be a long term goal.

6. Polititians are going totally nuts. Most stuff is done like a show to impress people, trying to make the opposing political party bad. If that continues this kind of democracy will ruin europe, not the euro. More or less similar in spain,germany,france,italy: no one follows a strategy to solve the problems, all promise jobs for everyone and eternal wealth for all. 20 more years of this and europe is totally out of shape. At the moment i dont feel who could be made guilty at the crash, but we will be at the same point as 1935... ah well, maybe its in 30 years....

[Vulcan]

Screw the Euro I have a friend setting me up with some very cheap Iraqi currency... once the oil flows I'm gonna BUY THE USA!

[Replicant]

For me the transition to Euro has been pretty good.  I was rather dubious about using the Euro but it has actually been much better than I ever expected.  The fact that you can use it in neighbouring countries is a big plus.

However, apart from German's having to pay for the former East Germany in a form of tax (luckily I earn tax free!!), I think the main gripe against the Euro was that when Germany moved to the Euro prices were often rounded up making many things more expensive.  BUT when compared to the UK I find Germany sooooo much cheaper and yet I supposedly live in the most expensive area of Germany (Munich).  If the UK ever did join the Euro then I could see the same thing happening there; prices would be rounded up making the UK even more expensive.  The more I live in Germany the more I realise that everyone in the UK is being ripped off bigtime.  It's such a shame and I just wish the Government would sort it out but obviously they're happy with the artificial inflation compared to the rest of Europe.

PS  Grüß Gott Schutt!!