Do You Think The Euro Is The Beginning Of A World Currency? (credit card, retiree)

[DannyBanany]

With the introduction of the Euro, many European countries came under one currency. Do you think the same could happen in the future with an American-Canadian alliance of currency? Japan and South Korea? The World?

Would, perhaps, there be two types of currency? One for developed countries (America, Britain, France, Japan) and one for undeveloped (Sudan, North Korea, Colombia)?

What do you think could happen?

[destinedtodave]

So, to answer your question, I think the EURO was only the start of regional currencies. I think eventually there will be a common currency shared by the entire 1st world but I dont see how the masses 3rd world people could be a part of the union (outside of being used and manipulated) without dragging it down economically. Neither are good outcomes...

[K-Luv]

There already is a one-world currency. It's known as the credit card.

[PAKennedy]

Originally Posted by K-Luv

There already is a one-world currency. It's known as the credit card.

I really hope that was sarcasm.

[bale002]

Actually both answers have merit to them.

Indeed, the EUR can be seen as one in a trend of regional currencies. The Gulf states are close to negotiating a currency union by 2010 (Saudi Arabia, Bahrein, Qatar, United Arab Emirates, Oman, and Kuwait) and some Latin American countries have set up Banco del Sur which some see as a prelude to a regional currency. In this context, Mexico, US and Canada will probably also unite currencies in the next 15-25 years, but no one can know for sure right now.

One can pay for items with a VISA card, Mastercard or American Express from many places in the world, so we can at least talk about an instantaneous global means of payment for many types of retail transactions.

It may be worth mentioning that the Roman silver denarius can be viewed as at least a regional currency, Mediterranean-wide, for several centuries, and its gold and other coins were also accepted in the Persian Empire and as far as India.

I am sure there are many other examples of attempts at establishing far-reaching currencies, and the current attempts will have their day, but nothing lasts for ever either.

[K-Luv]

Originally Posted by PAKennedy

I really hope that was sarcasm.

Yes it was sarcasm, but it is also true. So I guess that makes more like black humor.

[Cornwell]

The U.S will probably have to join a world currency someday with the way the dollars going sadly.... Probably lowering our SOL.... Thats why Im doing as much research into other countries as I can haha.

[K-Luv]

Originally Posted by bale002

In this context, Mexico, US and Canada will probably also unite currencies in the next 15-25 years, but no one can know for sure right now.

I seriously doubt that this will ever happen even though it might be beneficial for Canada to be linked with our economy. While Mexico would love to be, the average American would not want to have anything to do with it unless, maybe, if the US and Canada got EU on them and forced Mexico to come up to standard.

[DannyBanany]

I can see a Canadian-American currency. I agree that Mexico would be left out.

[bale002]

Originally Posted by DannyBanany

I can see a Canadian-American currency. I agree that Mexico would be left out.

The USD and CAD are already at parity. The only difference now is the commission to exchange.

Why should México be left out? Sooner or later, there will be as many US retirees in Mexico as there will be Mexican laborers in the US, all demanding fewer complications when making economic transactions and crossing borders.