ive done a lot of research on the euro and learned a lot of the economic history of Europe and the European Union.
personally I think it would be so cool to return back to the old currency’s if Europe so we have so much new coins and banknotes to collect in a numismatic view
but in a polcital and economic view do you think we should abandon the euro, not instantly but phase it out over the number of years to make shure economic stability ?
On the contrary, I have a wish. The Czech Republic has agreed to adopt the euro however, the deadline is still postponed. There is no will on the part of politicians to fulfill the commitment.
I am one of the supporters of acceptance.
In Covid crisis now the euro and the dollar rose sharply / weak currency of the great turbolence/
Yeah, and I want to collect :
banknotes -from all euro countries each year from the beginning of the adoption 500 euro banknote by years.
So mathematicians how much money it will cost me?
And the collection will be worth it / for paper /?
Absolutely not!
As an economics soon-to-be-graduate, I swear by the common currency.
It ensures a previously unheard of level of international cooperation and bargaining power, placing the union at the same level on the international playing field as the United States and China. While some states may have benefitted more than others from its introduction such as Germany in contrast with others like Italy, where each citizen lost about 75,000 euros of wealth (please don't ask me for a citation, I can't remember which analysis that came from) upon it's deployment in 2001, at the present the common currency allows such an extreme fluidity in trade, unfettered by tariffs and exchange rates, that returning to individual national currencies would have an unbelievable cost, both social and economic.
In fact, I'd argue that the way to fix the Euro's issues is MORE cooperation, that is, a common European fiscal policy, rather than less, the return to the nation state.
What exactly is it that you have been reading?
LRC
I collect anything: If it's Italian or Italian states i collect it even more!
Euro will not disappear in the next 100 years, I believe. Regarding coins, I can't keep up with all the euro coins every country produces. Plus so many coins were produced earlier by all European countries. I think it is already enough for collectors:)
Quote: "loruca"Absolutely not!
As an economics soon-to-be-graduate, I swear by the common currency.
It ensures a previously unheard of level of international cooperation and bargaining power, placing the union at the same level on the international playing field as the United States and China. While some states may have benefitted more than others from its introduction such as Germany in contrast with others like Italy, where each citizen lost about 75,000 euros of wealth (please don't ask me for a citation, I can't remember which analysis that came from) upon it's deployment in 2001, at the present the common currency allows such an extreme fluidity in trade, unfettered by tariffs and exchange rates, that returning to individual national currencies would have an unbelievable cost, both social and economic.
In fact, I'd argue that the way to fix the Euro's issues is MORE cooperation, that is, a common European fiscal policy, rather than less, the return to the nation state.
What exactly is it that you have been reading?
LRC
you already mentioned it, but the fact that there is no fiscal policy cohesion between states especially when shit hits the fan, means the euro will continue to be called into question for the foreseeable future. In its current form, it would never be seen as an alternative to the US dollar or other stable currencies like the Yen or CHF or even possibly the Renminbi these days.
That said, and you mentioned this too, breaking out of the euro would have enormous cost not only on the country that is jettisoned out (Greece came close) but on the other countries as well as the euro would now be seen as reversible.
Its one of those situations where aspirations got ahead of working out the nuts and bolts of such a grand project, so now euro zone countries are stuck and have no choice but to muddle through as they are doing now (The EU is infamous for fudging through most things anyways lol). More integration these days seems to only provoke more backlash and even more division between govts. It’s all too plain to see with the polarisation of south and east states vs the north and west
Quote: "BCNumismatics"If & when the so-called'European Union' collapses & disappears, then there would no longer be a justification for the Eurozone to remain in existence.
I would not be too surprised if Cyprus, Ireland, & Malta ended up replacing the Euro with new versions of their Pound currencies.
Aidan.
when you have your own currency it keeps a sense of nationality and patriotism. when your currency is the same as every one else then you loose a part of your identity which many people regard with a country. for example when I think of France I think of the franc, the flag and the food.
We still have our own identity, I do not see our Euro currency affecting nationality or patriotism.
Not everyone see's it that way but as someone who travels a lot throughout Europe I have to say I consider myself a proud European and I enjoy the benefits the EU and the Euro currency brings.
It makes a lot of things in life easier.
Even being in a Union each country is still their own with their own identity, nothing changes there.
Mark, Franc at least in France is part of history now.
If you like coins, medals and tokens with ship motives follow my new instagram account with regular updates @numisnautiker
From time to time I sell some coins on Ebay make sure to follow me @apuking on Ebay.
Quote: "loruca"Absolutely not!
As an economics soon-to-be-graduate, I swear by the common currency.
It ensures a previously unheard of level of international cooperation and bargaining power, placing the union at the same level on the international playing field as the United States and China. While some states may have benefitted more than others from its introduction such as Germany in contrast with others like Italy, where each citizen lost about 75,000 euros of wealth (please don't ask me for a citation, I can't remember which analysis that came from) upon it's deployment in 2001, at the present the common currency allows such an extreme fluidity in trade, unfettered by tariffs and exchange rates, that returning to individual national currencies would have an unbelievable cost, both social and economic.
In fact, I'd argue that the way to fix the Euro's issues is MORE cooperation, that is, a common European fiscal policy, rather than less, the return to the nation state.
What exactly is it that you have been reading?
LRC
I'm inclined to agree with LRC's perspective.
I believe it was the creation of the East Caribbean bank (for several nations of the West Indies) that was the first modern experiment of a united currency. It proved to strengthen the economic positions of several countries (St. Lucia, Antigua, etc). Although there are always growing pains (for the weaker countries who join) overall one central currency tends to reduce costs of producing banknotes & works for better trade. At least that's what my university buddies (graduates of Economics degrees) used to tell me years ago (when it all unfolded for Europe) 18 years ago.
As far as collecting goes, the Euro coins & banknotes offer up a lot. I purchased some coins while on a visit to Austria last year & gave them to my nephews/nieces.
The 2002 Duisenberg banknotes from just about any country hold fairly strong interest amongst most World banknote collectors.
Quote: "loruca"Absolutely not!
As an economics soon-to-be-graduate, I swear by the common currency.
It ensures a previously unheard of level of international cooperation and bargaining power, placing the union at the same level on the international playing field as the United States and China. While some states may have benefitted more than others from its introduction such as Germany in contrast with others like Italy, where each citizen lost about 75,000 euros of wealth (please don't ask me for a citation, I can't remember which analysis that came from) upon it's deployment in 2001, at the present the common currency allows such an extreme fluidity in trade, unfettered by tariffs and exchange rates, that returning to individual national currencies would have an unbelievable cost, both social and economic.
In fact, I'd argue that the way to fix the Euro's issues is MORE cooperation, that is, a common European fiscal policy, rather than less, the return to the nation state.
What exactly is it that you have been reading?
LRC
I'm inclined to agree with LRC's perspective.
I believe it was the creation of the East Caribbean bank (for several nations of the West Indies) that was the first modern experiment of a united currency. It proved to strengthen the economic positions of several countries (St. Lucia, Antigua, etc). Although there are always growing pains (for the weaker countries who join) overall one central currency tends to reduce costs of producing banknotes & works for better trade. At least that's what my university buddies (graduates of Economics degrees) used to tell me years ago (when it all unfolded for Europe) 18 years ago.
As far as collecting goes, the Euro coins & banknotes offer up a lot. I purchased some coins while on a visit to Austria last year & gave them to my nephews/nieces.
The 2002 Duisenberg banknotes from just about any country hold fairly strong interest amongst most World banknote collectors.
having a currency union does not solve all issues, yes is there a way to bring people together and help with tax free importes and logistics. This does not make up for losses in economic growth in spending in which many country’s depend on. Yes making every ones wages in euros solves issues interns of conversion but with high prices it can be costly to by food in country’s that had high inflation before.
Growth effects from the introduction of the euro were short-term and limited in scope. You seem to be pointing towards diminished consumer spending, and a demand-side shock as being causal factors for economic losses, stemming from integration of inflationary currencies into the Eurozone, certainly some countries were advantaged by their strong economies and mis-targeted exchange rates at the start, but the beauty of a friction free market like the eurozone is that these initial disparities do not last as basic market laws redistribute investment to maximize profit! As such, these price disparities have almost disappeared across équivalent regions (not across states, but that’s another story!)
Id really like to know what you’ve been reading, it’s likely worth taking a look at it!
LRC
I collect anything: If it's Italian or Italian states i collect it even more!
as someone interested in coins of different currencies, I hope it doesn't last.
I have zero interest in collecting Euros. It would be cool if all the EU countries had their own design for coins that are "euros" but are labelled as the country of origin's currency, with the same compositions so that a 1 Spanish Peseta would be 1 French Franc which would be 1 German Mark and etc etc.
Quote: "loruca"Growth effects from the introduction of the euro were short-term and limited in scope. You seem to be pointing towards diminished consumer spending, and a demand-side shock as being causal factors for economic losses, stemming from integration of inflationary currencies into the Eurozone, certainly some countries were advantaged by their strong economies and mis-targeted exchange rates at the start, but the beauty of a friction free market like the eurozone is that these initial disparities do not last as basic market laws redistribute investment to maximize profit! As such, these price disparities have almost disappeared across équivalent regions (not across states, but that’s another story!)
Id really like to know what you’ve been reading, it’s likely worth taking a look at it!
LRC
I’ve bin reading textbooks ,also using online resources and opinions of people being interviewed by the AP on YouTube. I found when you search a pre euro currency like Irish pound almost nothing comes up but what does are a few videos of people being interviewed and promoting the use of the pound in the 2015-2016 years after the economic crisis.
It’s gonna be interesting to see what happens when my home country Macedonia comes to the euro zone in the coming years and what will Happen to its almost non existent economy.
Quote: "FlyingRedPanda"as someone interested in coins of different currencies, I hope it doesn't last.
I have zero interest in collecting Euros. It would be cool if all the EU countries had their own design for coins that are "euros" but are labelled as the country of origin's currency, with the same compositions so that a 1 Spanish Peseta would be 1 French Franc which would be 1 German Mark and etc etc.
Yea that would be awesome to see, like there are so many types and years and series it’s hard to catch up, Greece does kinda use your theory with the naming of the currency, on there euro cent coins they replace it with lepta
I am firmly convinced that international agreements such as the European Union depend on solid cultural and educational foundations. Without a truly spoken common language, there is no 'common people'. A common currency, such as the euro, is useful for several purposes, but limited to the economic sector. Therefore, this Union is likely not to last many more years.
The most paradigmatic example is before our eyes: how easy it was for the UK to rescind the pacts ed quit.
Other international organizations, such as the WHO, are now obsolete and futile (even not '' international '', because they are financed by a very limited number of nations, and by many private tycoons). First the man, then the machines.
First education, then economics.
Quality first, then quantity.
(The beauty of euro is very poor compared to the old currencies.)
I wish collectors from all over the world health and a beautiful day.
You forget it what was the original idea of the EU , integration and a common currency is a greater connection.
Money, currency and our views of collectors -is one side of the thing.
The second is the longest period in human history when there is peace in Europe.
I worked in missions , I studied military , I saw the war - Therefore, with absolute certainty I claim most of you would change her mind when confronted with the suffering of war .
No economy, currency, collectibles -but to prevent us in Europe from biting each other.
And because we bite pretty hard and we can do it among the nations and I think we would drag the whole world again.
That this is not possible? But is. Believe that humans are animals.
There are people on the forum here ,sensible and educated -so believe that peace is a tax.
Ahoj Ivan
"I worked in missions , I studied military , I saw the war - Therefore, with absolute certainty I claim most of you would change her mind when confronted with the suffering of war ." MIMAEL
- yes, well put 'MIMAEL'. Currency is a result of the unification of Europe (not the other way around). It's important to understand its function & as far as a convention- the agreed upon means for which cash can be exchanged for goods. So while the symbols on coins/notes may be dear (or abhorred) by many (or some) collectors - all in all, collector support (or rejection) is pretty inconsequential in the big scheme of things.
On another note, I picked up a copy of "Currency Trading for Dummies" (Brooks/Dolan 3rd Ed) & they stated that trading volumes (on the Forex) is around $5 Trillion per day (dwarfing the stock market many times)! Of that, 50% of the market (currencies traded) are European (Euro; GBP: CHF, etc) while about 22% are either Asian (JPY ; AUD, etc) 22% are North American (USD; CAD, etc) trades. The volumes/history of the following currencies (GBP; USD; EUR & CHF) are explained in terms of their popularity in Forex so that one understands the exchange rates a little better. Interesting read!
