Common euro

June 24, 2016: Probably it has been almost 2 decades since the form of the common euro.

How much time, money and effort have been spent in forming the European Union? How many issues had been surfaced?

1. Greece bailout was the start with billions of euro poured in Greece to save the euro. Of course, EU members have paid that.

* If only CETA was kept, and no common euro. Greece could devaluate its currency by using its own interest rates.

* Months of chaos and years of work in saving Greece. How about your own country?

2. Flooding of immigrants into your country in a short period of time would create shortage of housing, i.e. inflate house prices. More skills than necessary in a field appears suddenly. Usually governments try to balance its work forces.

* In this case, there is no methodology.

3. Can you form a country of EU? How many people would be proud of saying "I'm an EU citizen?"

* They would otherwise say "German, French, Belgian, British, Italian, etc."

* EU policy is gearing toward a united nation, but this would never happen.

* Would you change history in each EU's member?

4. Probably a common language would help in a few centuries from now.

* Which country would abandon their language?

5. We like to trade with countries in CETA for easy trades or movement of goods. Do we care about EU's rules?

6. Decisions by ECB on interest rates or methods to kick start or cool down economy were exceptionally slow. The last time took several months to come up with a rate cut. But when it was implemented, Germany economy picked up.

* There is nothing wrong by ECB to discuss with all members about setting rates. It's just too slow.

* The rate set was not applicable to all members. Each member's economy was in a different state.

7. The common euro didn't help us in trading with EU, btw. We could sell tons of products quoted in USD or our currency. Using conversion rate, we could give a quote in any local currency. After a sale, converting back revenue into our currency is easy. We don't need to keep budget or funds in a local currency or euro.

8. CETA is a large market, thus we'd like to get CETA's members up to speed. CETA members would be able to compete with others (except ourselves). Jobs would come to CETA members, thus CETA members would have money to buy our products.

* We had quality products at lower prices than in EU, this would help to bring down cost of living in EU. Allowing us to sell our products OR not is another issue.
-> We were talking about Made in Canada and Made in USA's products. Our products are good in quality.
-> Products designed by USA, Canada, or Germany but Made in China is a different issue.

* It's up to CETA's members to make themselves competitive.
-> In North America, we started with 2 weeks of vacation. Thus EU could do the same. Let's employers and employees renegotiate salaries accordingly.
-> CETA's members could lower corporate taxes, thus their products would be lower in costs.
-> Anyway North Americans are workaholic, thus we're confident to compete with CETA's members.

* If CETA members didn't have money, then how we could sell our products?

9. Credit cards are getting popular. We could use our credit card while travelling, thus cash in local currency isn't a mandatory. Of course we would pay currency conversion or credit card's commission in this case. So, common euro or a local currency didn't mean anything to North American travelers.
-> It's likely that we have travelled once a year during our vacation, thus paying credit card's commission in this case wouldn't be a huge issue.

* The common euro would help a little bit to EU members if they crossed borders often. However the draw back in common euro is tremendous. EU hasn’t been out of recession since 2008 crisis.

- Probably Germany needs 0.5% to 1% interest rate, but Greece needs -3% to -5%. However ECB applies the same rate to all EU members. This would overheat some countries as well as unbalance in their economy.