When will the Euro be abandoned?

[Jax Humanhater]

When you have a nearly continent-wide currency, it's bound to be almost worthless, especially, if France and Germany's economies need to prosper for the currency to be worth something.

Greece is in debt and they can't pay with the Euro, so, they will default on the currency.

 

[Mapu]

The € will not be abandoned. I am pretty sure about it since that would be the detriment of all member states.

Beside, states which want to leave the € behind, at least need to create new laws to establish a new currency (a surrogate for € if you like to say so) with a new exchange rate (fall in value included), have to undergo logistic changes, bureaucratic changes, the private sector will lose its value because it will need to follow the public sector sooner or later, the time needs to be calculated until the new currency will be fully put into place, capital transactions would become restricted again, the right to freedom of movement conditioned too to avoid chaos on the market sector and within the population.

A simple statement like "no, we don't want the € anymore" is not possible by European Law. The €, once granted, is part of the membership. The only way to "abandon" / bypass the € is by creating a state law like described above.

Anyway, one should not forget that the European Union is more than just a common currency. It has a common goal: learning from the past, preserving peace and freedom and stability on the European Continent.

 

[Craig Stevenson]

I don't know what it was like in the EU countries before or with the Euro but the Common Market\EEC is bogus from a UK Consumer POV. I've looked at buying computer hardware from Germany, Holland etc but you might as well just buy from a UK store as by the time I've added Tax\Import Duties it costs the same (quite often more) than buying in the UK.

It's not just the EU zone though, the "World Market" is also a fallacy, I keep hearing that the Internet has allowed people (Me) to buy from anywhere in the world, true to a point but once you've bought a shiny new Motherboard from the US for half price it hits the UK border and the Government says thank you very much here is a bill for 20% VAT and a few quid's worth of import duties which again is likely to take the price above what you would have paid in the UK.

The Euro WILL fail, there is absolutely no way Germany, France, UK and other top EU countries will or can continue to bail out Greece and other failing Countries. Why the hell should the UK have to slash it's Armed Forces, NHS etc while at the same time bailing out Greece, the people will stand up sooner or later and say enough!

 

[Hampus Andersson]

I laughed slightly at the last sentences sorry about that,
(marcel's post)

bit to answer the first post, a currency do not get devalued based on the size of how many countries use it.
the problem is when you start printing paper and have nothing to back it up with, like gold for example.
countries are realizing this as we speak and China is buying anything that's yellow and shiny atm,

Euro might fall or be un-attractive to most European nations (like here in Sweden when we realized we are much better off with our own currency) but it will still exist and EU will exist as well as long as nations think it will do any good to them. Can't say any of those signs exist though.

 

[Mapu]

When you have to state explicitly that you laughed, then you should also include a reason. But worry not, I am out of this discussion because it gets personal again.

 

[Craig Stevenson]

Forgot to point out that the EU is one of, it not the most CORRUPT organisation in the World, it's nothing but a gravy train for the MEP's, their Families, Friends and Cronies. In 2010 the EU failed to have it's accounts signed off for the 16th consecutive year with 90% (NINETY) of it's budget found to have irregularities.

 

[Søren Mogensen]

Here in Denmark we have our own currency, it really don't make a difference from being a part of the Euro. In 2007 we had black numbers in the budget (yes USA it's possible), now they are red because we are paying to Greece, Italy, Spain, and so on.

 

[Hampus Andersson]

When you have to state explicitly that you laughed, then you should also include a reason. But worry not, I am out of this discussion because it gets personal again.

Well first of all, i don´t actually. You can ask me and say "why did you laugh" but to say i "should" explain myself without anyone asking is laughable that too.

Clearly i should not explain myself judging by the last sentence so all in all your post was quite useless in that department.

" It has a common goal: learning from the past, preserving peace and freedom and stability on the European Continent."

That is the same as saying what that 13 year old kid said in another thread, that Obama brought peace and stability to the United States. Absolutely ridiculous of course.

 

[Mapu]

lol I didn't make a single judgment about the performance of the EU and neither did I say that the EU meets its proclaimed standards.

But please, tell me why the European Union was formed.

 

[Bram Hengeveld]

Whats wrong with that last sentence then? That is exactly the reason why the EU was formed in the past. No more war on the continent.

 

[Hampus Andersson]

But please, tell me why the European Union was formed.

More control over the nations.

Just because you are in a union it´s no form of safety that countries won´t go to war with each other.
It´s the same as saying there won´t be any war inside a country because everyone is from the same country with the same laws.

If you want peace it´s something nations themselves have to figure out, one big union is not going to stop that simply because they are all part of a union.

European Union is built to have more control over a vast majority of countries and have a bigger status if you will internationally speaking.

Instead of having USA, China, Russia all these big nations and then you have petty little countries like Germany here in Europe, no you want one big union instead that in many ways tries to act as one big country with certain generic laws etc.

Peace for all? I doubt it. If anything it has created more stress and more revolts in nations that are members of EU.

 

[Hampus Andersson]

Basically the number 1 goal was to create one market if you will.
Open trading, more open among member countries for various reasons, much like creating a big semi-country.

Imagine if it really worked like that... "hmm we got these wars here....let´s call ourselves a union, put in some generic laws and poof, no more war"

War doesn´t give a damn about the fineprint on some treaty.

 

[Bram Hengeveld]

Really not true what you are saying. Maybe you are confused by the semantics or something.

The precursor of the EU was formed to assure that coals and steel (resources) were secured. You can call this creating one big market of but actually it was quite a revolution to have France and Germany on one table agreeing to focus on stability and not longer try to smash eachothers heads. BeNeLux was included in the pact and there was a foundation for security and peach in the center of Europe.

Open Markets are really a product of the third stage of the European Union, absolutely not the first foundations.

 

[Hampus Andersson]

Really not true what you are saying. Maybe you are confused by the semantics or something.

The precursor of the EU was formed to assure that coals and steel (resources) were secured. You can call this creating one big market

As you are saying yourself. This was the pre-cursor. Merging markets.

European Coal and Steel Community was the pre-cursor to EU.
Not European Peace Foundation or whatever other name we can come up with.

Getting more stability was most likely a bonus but definitely not the main reason why the union was created.
Or why any union is created for that matter.

In fact what we are seeing is that it creates less stability if anything.

 

[Bram Hengeveld]

Well the effects and outcome maybe is different than what they originally planned but you can't deny that it all started to create stability and peace in the region. Economic growth is one of the things that prevents people going to war and shoot eachother.

Only desperate people go to war.

 

[Hampus Andersson]

but you can't deny that it all started to create stability and peace in the region.

I do actually, as both you and me have already concluded it was for markets.
That was the fundamental reason why it was created.
Bigger market, bigger status internationally (through UN etc), more generic laws, more control over a bigger land mass.

Peace and stabililty-thinking? Bi-product and sounds very nice.
Thats the sentence you would push to the people and not companies.

 

[Hampus Andersson]

As far as war there are many reasons,

resources, pushing democracy, propaganda lies, actually helping the government

And quite simply.....because they can.

Or for a nation like USA. You kinda have to.

 

[Bram Hengeveld]

We'll have to agree to disagree, but you probably disagree with that as well

 

[Hampus Andersson]

We'll have to agree to disagree, but you probably disagree with that as well

No that we can definitely agree on

 

[Miguel Gonzalez]

Well you folks might follow us soon, the Dollar is about 2 months out from collapsing and china just announced the backing of the Tuan in gold effectively replacing the global currency.

"King World News is pleased to break the news first in the world for our global readers that the World Gold Council has now confirmed the Chinese are going to back the yuan with gold. Today a legend in the business, Keith Barron, who consults with major companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, informed KWN of this development and also stated, “... the gold and silver bulls are going to begin to trample the bears at some point in the near future.”

http://kingworldnews.com/kingworldn..._Coming_As_WGC_Confirms_Gold-Backed_Yuan.html