This came up in conversation between my mom and I talking about Euros and how cool that is to me (Canadian). I then wondered why we can’t just have that everywhere and all she could say was “it wouldn’t work, what about less profitable countries” and I said “they’d just make/have less?” She did not like that answer and I really wanna know the real reason on why that wouldn’t work bc in my mind since we made up money why can’t we just make up how new money works???
Please explain like a teacher explaining why a kid can’t share 3 m&ms with 28 people
In: Economics
The Euro works because the european union is a governing body that can impose its trade and commerce rules on all of its members, and can choose to exclude countries that aren’t economically stable from joining. The UN is not a governing body. And not all of its current member states are economically stable. they would lower the value of the currency for everone else, and certain members shouldn’t be trusted with the means to manipulate the strength of a unified currency (I’m thinking of Russia, but I’m sure there are others.)
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