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
Even within the EU and within Schengen zone not all countries are on euro (looking at you forint at least). It takes a massive level of cooperation and.m consideration to work and really countries need to have compatible goals and levels of economic development to make it work. A bunch of the tricks of economic control go out the window if you give up control of currency. This might add stability and de facto it happens when countries move to something pegged to the US Dollar often as a long shot at recovery after years of mis management and huge foreign debts.
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