I imagine that my following idea must be wrong in some way because if it was good I imagine people would write about this. My idea was that maybe what Europe needs is a double currency. In this way even the UK could join the euro while at the same time maintaining the pound. We have more than one mobile operator and that seems good so maybe to have two currencies won’t be so bad.
I repeat that this is just an idea and that I imagine that there must be something quite wrong with the idea but it is a long time since I have the idea so I just wanted to express it.
The idea would be that the whole Europe had a common currency so that we could travel through Europe with the same currency. This currency could even be a currency also to countries outside the EU. Cities like Moscow could also have this currency.
How it would work’
Well, this current currency will be used mostly in the tourist places.
People could choose between being paid in that currency or the state currency.
So now the countries of the eurozone could have new deutsche marks, new francs, new liras, new pesetas and at the same time use the euro (the euro would be the common currency …)
One could say that by doing this we would have two Europes. Well, maybe that could be true but at least we would have two Europes in each country. I think that that is better that two Europes related to countries.
I imagine that the problem would be the rate of this “new euro” in connection with the new currencies of each state.
Well, in fact we could have not just 17 new currencies for the eurozone but even more! For example, in Catalonia we could have our own, the Scottish too … So in a hotel ot a bar in a main street you would pay in the new euro but in the market you would pay in the new franc etc.
As I am writing this I am afraid that my idea maybe it is not quite good because it bring a bit of chaos. It is more simple to have one currency that two currencies in the same country but it is also obvious that it may have some advantages too.
About the wages one could be paid all in new euros or all in new cats (the new currency for Catalonia?) or in a mix.
Well, I think that my idea is crazy but people some years ago put the euro as a wonderful idea and now seems a disaster so that who knows … what may work or not …
- The Pound remained on the defensive yesterday and slumped to near six week lows against the US Dollar exchange rate (torfx.com)
- Never mind the drama. The euro’s here to stay (theglobeandmail.com)
- Would stricken eurozone countries really be better off with their own currencies? (blogs.telegraph.co.uk)