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  • Yes, I have gone through your article, it helped me a lot on this topic. Well done and thanks for your efforts

  • It is not clear what to read.

    However, for what it is worth, I have written a little about the problems and benefits of having a single currency region. Is that relevant to this discussion. In this case is it proposed that the whole world should be a single currency region?

    Here is an extract from my draft book:

    Single currency regions, not just in Europe but everywhere, even quite small ones like the UK, tend to find that people leave the hard hit areas and move to the prosperous cities where houses cost far more and continue to rise as the population shifts. Not everyone can buy a home there. The rents are high and when they get that job which they could not get back home, they struggle to make a living. They become economic slaves.

     

    What they leave behind is a poverty stricken area and the house they once owned and loved has little value. Infrastructure that cost billions to create back home falls into decay. It could have continued to function and be useful. No need to build more infrastructure elsewhere. No need to destroy families and old-friend relationships – no longer seeing the ones you know living around the corner. Now you are a stranger living in a foreign culture. The local population is not friendly – social strife can emerge. Loneliness can rise. A recent report claims that mental stress knocks over 3% p.a. off Europe’s GDP.[1]

     

    Why would a government join a financial community like Europe in which they are unable to adjust the costs of things (the value of the currency) and as a result, lose their best people and see their tax revenues emigrate? A single currency can help businesses greatly. It simplifies everything. So a solution is needed.

    --------------

    Well the solution does not seem to be very near to hand right now, does it?

    America tries but Detroit is still half wasted.

    In Europe everyone is migrating to Germany.

    In the UK Scotland argued for having its own currency. The North of England might also have a case.

    My draft book can be found (in part) here:

    http://ingram-dropbox.blogspot.com/p/the-book_15.html



    [1] GDP means Gross Domestic Product and actually means the total income earned by a whole nation or in this case, Europe.

    THE BOOK Draft 171
    It has proved very difficult to write this book. I have re-started many times. This was only one attempt. The problem is trying to...
  • Daft as a bunch of Euros.
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