Quote:
Originally Posted by 4X4
I don't care for the idea, personally. It seems to me that a North American common currency wouldn't really benefit Canada or the US. Maybe Mexico. The reason I think it wouldn't be great for Canada is because our currency would be tied to the American economy. It'd be like having a joint bank account with someone that makes more money than you, but also spends more money than you. You'd never really have the power to control your bottom line.
The US wouldn't benefit because they'd be propping up Mexico and also, to a lesser extent, Canada. I suppose they would benefit from the trading power that would come with it, but in the grand scheme of things, that'd be nominal compared to the drawbacks.
Mexico would benefit greatly because of tourism. Or would they suffer? Maybe they'd also suffer because one of the great things about going to Mexico is that our money is worth so much more... I have to think about that a little more.
Comparing the idea to the euro is apples and oranges. Europe is vastly different in so many ways. Sheer size, to begin with. The 14 or 15 countries that use the euro are less than a third the size of the US combined. And they're all very well travelled. Plus their economies rely on eachother significantly more tha the US' economy relies on Canada's.
Of course, I'm no economist. That's just a bunch of junk off the top of my head.
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Exactly, it doesn't make sense for any of the parties invovled. And the line I bolded is by itself the reason why it'll never happen.