Euro vs Dollar

[Bereta_Eder]

chrysler? *giggles*

isn't it like, dead, by now?

[Gatekeeper]

**shrug** I remember a time — I believe it was the 1980s and early 1990s — when Japan and the yen was being toasted as the way all business would be done in the future.

Fast-forward to the present. Just how long has Japan been in the economic doldrums? A decade or so as of now? With that in mind, I really doubt that the euro will become the premier currency. Ha! Not with the way some EU members have their labor laws and whatnot set up.

I think that the future will hold several "parity" currencies, however. The dollar and the euro, obviously, will be strong currencies. Not sure on the other three of the "Top Five" currencies, though.

Gatekeeper

[KrazyHorse]

The Canadian Dollar: not just for wiping your ass any more

[Bereta_Eder]

Gatekeeper,
these labour laws are there for the protection of the workers.
they stringent, unflexible and do not favor mobility in the work force.

however i think governments will be very sceptical about reforming those laws if it isn't certain that the ensuing result will not do more damage than good.

forcing neoliberal policies too soon or too harsh, in a market which is not mature (or willing) to accept them can do more harm than good IMO.

[Victor Galis]

lol, KH... it was highly ineffective using a coin instead of real paper though

[KrazyHorse]

I've been getting more hemmorhoids lately...

[Gatekeeper]

Originally posted by paiktis22
Gatekeeper,
these labour laws are there for the protection of the workers.
they stringent, unflexible and do not favor mobility in the work force.

however i think governments will be very sceptical about reforming those laws if it isn't certain that the ensuing result will not do more damage than good.

forcing neoliberal policies too soon or too harsh, in a market which is not mature (or willing) to accept them can do more harm than good IMO.

I agree, and that's also why the euro will not transform into some planet-dominating currency anytime soon. It will remain strong, IMHO, but not dominant.

Why? I just don't think that businesses and capital that is currently invested in the United States — and, consequently, *used* to how business and labor laws are here — will automatically flood into the European Union because of some crappy capitalist pigs () in the States. The very laws you describe, Paiktis, would, indeed, help the workers and social net, but they would also play a deterring role in keeping the "flood" of capital out of Europe. I don't know if EU nations would adjust their laws accordingly in order to take advantage of this opening ... but judging from what's happened recently in Italy, I doubt it.

I sometimes envy European workers as well. Jeez. What I wouldn't give for all those holidays and paid vacations. I can't complain too much, however, as I do get two weeks paid vacation where I work, in addition to paid comp days for having to work holidays.

Gatekeeper

[TCO]

All this talk of "strength" of a currency is rather silly. Governments waste billions of dollars in trying to prop up currencies. GDP is a much more rational metric for how a country is performing economically. And long term bond rate is a good metric for the market perception of risk in terms of inflation or default.

[Bereta_Eder]

Originally posted by Gatekeeper


I agree, and that's also why the euro will not transform into some planet-dominating currency anytime soon. It will remain strong, IMHO, but not dominant.

Why? I just don't think that businesses and capital that is currently invested in the United States — and, consequently, *used* to how business and labor laws are here — will automatically flood into the European Union because of some crappy capitalist pigs () in the States. The very laws you describe, Paiktis, would, indeed, help the workers and social net, but they would also play a deterring role in keeping the "flood" of capital out of Europe. I don't know if EU nations would adjust their laws accordingly in order to take advantage of this opening ... but judging from what's happened recently in Italy, I doubt it.

I sometimes envy European workers as well. Jeez. What I wouldn't give for all those holidays and paid vacations. I can't complain too much, however, as I do get two weeks paid vacation where I work, in addition to paid comp days for having to work holidays.

Gatekeeper

The EU is trying to balance neoliberal with socialist-originated practises IMO.

On one hand it wants to be competitive and at the same time preserve (that's the key word these days) the net of social security which has long been its legacy.

It is a tough act to do.

Sometimes some of these social welfare models seem ready to explode from within (crumble under debts) but if a full neoliberal approach was to be taken the social repercussions would decapitate any government.

I think that the EU is happy to let go of some 0.1%s points of economic growth if this means the longlivity of its social welfare structure.

But, despite all this, funds and capital from the US are indeed coming to the EU.

But the systems of these two economic blocks have clear differences (which apparently both of them are fond of )

[TCO]

Hey stop talking about music, mister violinist!

You are only allowed to have silly threads and to troll the Israilis and Amies and whine about the Turks.

[Bereta_Eder]

Originally posted by GP
Hey stop talking about music, mister violinist!

You are only allowed to have silly threads and to troll the Israilis and Amies and whine about the Turks.

I'm on my break

[moomin]

You think the exchange rate (or, exchange rate trends, rather) is an uninteresting metric, GP?

[TCO]

I think there is a lot of sillyness attached to discussion and policy around exchange rates. (Strong dollar policy, etc.)

[moomin]

That's not quite what I asked.

[TCO]

It's an interesting metric if you aren't silly about it. Ok?