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Is the end of the Euro in sight? I'm actually surprised that it's lasted this long.

Posted by Rand Simberg at December 13, 2006 07:34 AM
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That's an interesting theory. I read yesterday that OPEC finally made good on their threat to do oil contracts in Euros rather than dollars; I don't know how to reconcile the two things, if the latter is true.

Posted by Rick C at December 13, 2006 08:47 AM

It's not a "mortal blow" to revert to regional currencies. The Euro can continue to prosper in such an environment. After all, the economically weaker European countries will still need to make transactions in a hard currency like the Euro. Just make sure that the Euro remains a legal currency in every country.

Posted by Karl Hallowell at December 13, 2006 11:55 AM

Some smaller countries benefit for using euro - their currency isn't as easily rocked. It's a shame that europe is so diverse economically, euro's value isn't close to the optimal for everyone. It's still hard to gauge if the overall effect is largely positive or largely negative or just about zero. And then there are other benefits ie that deals between European companies and people can be done in euros and you can forget about currency fluctuations suddenly changing the real prices later. And it's easy for people making trips too.

Posted by mz at December 13, 2006 03:19 PM

My understanding of the Euro is that it basically ties everyone in Europe's feet together in terms of monetary policy.

Exporting industrial countries like Italy actually benift from weaker currency, wheras other nations might want a stronger one to respond to their own banking situations.

The economies of Europe are diverse because the degree to which they've embraced socialism and central economic planning is varied, so they would probably benifit from independent monitary policies as well.

Posted by Aaron at December 13, 2006 07:34 PM

I read yesterday that OPEC finally made good on their threat to do oil contracts in Euros rather than dollars

Possible scenario: the differing camps collapse the euro, ruining these contracts. Who gains?

Posted by McGehee at December 14, 2006 08:05 AM

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