Europe have one big problem the euro currency

[Shortmaster]

The euro currency is in trouble.
Why becouse world dont need euro to buy commodities or goods much.
World needs good germany good cars but can Do without them.
The euro currency value is high becouse of temporary rate hikes it creates only huge short term inside demand for euro inside europe but not in the world.
So USD we need world needs becouse oil and it's reserve currency still.
Gbp pound Also on high demand by other countries on forex markets.
China currency Also on high demand.
Russia currency Also needed highly becouse of natural resources in russia what other countries need.

But when it come Europe there is nothing so euro value might fall very soon becouse world don't need euro and nobody dont want junk eu debt bonds really when times getting harder people want food and commodities and natural resources but europe don't provide nothing to the world so no demand for euro currency either.
So If euro IS so useless what they might do with euro well they Will lower the rates and Will do super qe and print out Even more money and inflation in Europe Will go to Even much higher then it IS now.
Euro Will be printed a lot probably and exvhanged by smarter guys in to usd or gbp before the collapse of euro currency.
I Will sell most of my euro currency becouse i feel it Will start lose value fastest since no euro currency demand on the global markets.
Off course this euro value falling Will create BIG debt and BIG buildings in Europe but at the end europe Will be pretty much like soviet union when the Money printing stops and they cant hide euro with junk bonds and dirty swaps anymore then euro currency holders Will be victims of hyperinflation becouse currency Will lose value so fast If there is no demand by other nations and countries.

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[icalical]

All those explanation, you forgot about tourist. European countries have always attracted millions or even billion tourist every year. Outside of Tech and Car stuff, tourism is one of the biggest export of European Countries. And those tourist will exchange their currency into Euro.
Other thing is that you might have valid point that Euro only sell for a luxury stuff, Sports Car, Designer Clothing, etc. But like it or not rich people will still buy those luxurious goods.

[Swordsoffreedom]

In my opinion, the European economy is still the largest economy in the world, but one thing is that they are deadlocked, dependent and too dependent on the US. Every decision they make is heavily influenced by the US. The US always seeks to contain all other countries so that no one can surpass it, including its allies. If I remember correctly, the British pound was also the dominant currency in the world until the USD took its place. And before the British pound dominated the world currency, the currencies of countries such as Portugal, the Netherlands... were the dominant currencies, but today all are dependent and under the direction of the US.

[Don Pedro Dinero]

In my opinion, the European economy is still the largest economy in the world, but one thing is that they are deadlocked, dependent and too dependent on the US.

Your opinion is wrong. The EU economy is the third largest in the world, after the USA and China. On the other hand, I do not see the currency, the euro, as a bad thing. It is not as sought after as the dollar, but there are many developing countries with weak currencies where they accept euros as well as dollars, although not as many. It is certainly much better than most currencies in the world.

[yhiaali3]

Your words are not completely accurate. There are hundreds of advanced European heavy industry that the world needs and imports, in addition to tourism, agriculture and banking services.

But the problem with the euro is that many countries (including the European countries themselves) do not want it and want the dollar instead of it. Unfortunately, Europe is subject to the United States, and therefore they cannot bypass the dollar and adopt the euro as a base currency instead of the dollar.

Europe is a great economic power, but it loses its role and power because it falls under American hegemony. I think that the United States exaggerates the Russian threat to Europe to keep Europe under its control.

[lizarder]

But when it come Europe there is nothing so euro value might fall very soon becouse world don't need euro and nobody dont want junk eu debt bonds really when times getting harder people want food and commodities and natural resources but europe don't provide nothing to the world so no demand for euro currency either.
So If euro IS so useless what they might do with euro well they Will lower the rates and Will do super qe and print out Even more money and inflation in Europe Will go to Even much higher then it IS now.

What I understand from the side of the exchange rate against any currency is not based on whether it is needed or not, it's the same with the Dollar which dominates the world and this currency has always been a necessity for the world economy. The euro is still the third largest currency and although their influence is not as strong as the dollar, the exact reason why the euro can't have a bigger impact is because they don't seek to rule the world, so their role can't affect the world economy.

That's just my assumption and I don't know if it's relevant to what actually happened, because the euro is still the third largest currency and they should be easier to dominate the global economic market and maybe we often see euros used to buy football players though the currency is still seen from the dollar as a comparison

[bittraffic]

In my opinion, the European economy is still the largest economy in the world, but one thing is that they are deadlocked, dependent and too dependent on the US.

Your opinion is wrong. The EU economy is the third largest in the world, after the USA and China. On the other hand, I do not see the currency, the euro, as a bad thing. It is not as sought after as the dollar, but there are many developing countries with weak currencies where they accept euros as well as dollars, although not as many. It is certainly much better than most currencies in the world.

And not all countries are actually decoupling with China, Germany and even France are not leaving to trade with China. Euro will survive as long as there is something they can trade with the rest of the world. If the US is in recession the rest of the world is in recession. It's the smaller countries that are more susceptible since their reserves are more in USD, their currencies will plunge and inflation also affects the daily lives of everyone.

[Faisal2202]

Why i am not surprised. wait i know. I have read many topics of yours before. And i remember now that you always make such assumption based on knowledge limited to you. I am not bashing you i am just trying to understand the points you have made. Like why do you think that euro has nothing to provide others like why did you think it has no demand at all.

Euro is still the second most currency after US dollars i think, well even i am wrong but Euro still has better potential then Japanese yen and Chinese currency. i prefer you to read this article for better understand of why i think that.

But please do not forget to back up your statements with solid proofs because without any proofs and sources you are just making lame posts.

[KiaKia]

Lol, I have been hearing this demise of the Euro many years ago and till this day the currency is doing fine, you need to do more research first OP, don't just assume that because European countries lack resources it will affect their currency, Why hasn't that happened all this while then if it's genuine true?

Even some countries with good resources are not doing well, their currency is devalued and still going down, it's not always about resources mate, there is more to this whole thing.

Do you know that Sicily have mines full of sulfur? That's need for gunpowder, they have coal, steel, Timber and Wool, and these are resources.

[davis196]

The euro currency is in trouble.
Why becouse world dont need euro to buy commodities or goods much.
World needs good germany good cars but can Do without them.
The euro currency value is high becouse of temporary rate hikes it creates only huge short term inside demand for euro inside europe but not in the world.
So USD we need world needs becouse oil and it's reserve currency still.
Gbp pound Also on high demand by other countries on forex markets.
China currency Also on high demand.
Russia currency Also needed highly becouse of natural resources in russia what other countries need.

But when it come Europe there is nothing so euro value might fall very soon becouse world don't need euro and nobody dont want junk eu debt bonds really when times getting harder people want food and commodities and natural resources but europe don't provide nothing to the world so no demand for euro currency either.

USA and China also have big debts. It's not just the EU. Britain also has big debts. Will the British pound collapse soon, because the UK has big debts? Probably not.
The people inside the Eurozone need the euro(because it's a legal tender). Why would a random person in China, India or Latin America need euro?
Do you really know how the value/price of a currency is determined? I don't give a damn, if nobody in the rest of the world needs euro. The only important thing is that the Europeans need euro. I don't know about any European, who needs Chinese yuan or Russian rubbles. Does that mean that the Chinese yuan and the Russian rubble are in trouble? Nope.

[Helena Yu]

USD, Euro and Yuan are three fiat currencies that's really solid, I don't think one of them will failure because most of citizens are still believe in fiat currency as legal tender. I agree if fiat is worthless, but you need to compare Euro with other fiat currency, you will see Euro is strong as USD and Yuan.

However you have a choice to convert your fiat into Bitcoin and convert it back to fiat whenever you want to buy something in your country.

[DeathAngel]

There are a lot of guys in mainland Europe who say life was better before the € when they used their own currencies. I know that it was much better to go on holiday in Europe to get a lot more local currency for my $.
The € has ruined economies, I don’t know if it’s practical or would ever happen but to revert to their own currencies & abolish the € would be great.

[BenCodie]

The euro currency is in trouble.
Why becouse world dont need euro to buy commodities or goods much.
World needs good germany good cars but can Do without them.
The euro currency value is high becouse of temporary rate hikes it creates only huge short term inside demand for euro inside europe but not in the world.

All fiat currencies are in trouble, some more than others. Euro is one that is in trouble for the reasons that you explained, however..

So USD we need world needs becouse oil and it's reserve currency still.
Gbp pound Also on high demand by other countries on forex markets.
China currency Also on high demand.
Russia currency Also needed highly becouse of natural resources in russia what other countries need.

This is not entirely correct. If the world geopolitical stance went against the U.S., this would not mean the end of oil. It would mean the end of the USD, and another reserve currency will take its place. Oil is just another commodity, and it is only under the tyranny of the U.S. due to its global dominance. One day, this might not be the case.

As for GBP, it's worthless. Use-case being forex? Please. The country and the banks are the only vested interests. If a better currency existed over GBP and the country could use it, they would. Forex markets won't miss them either.

China, well, they are much more powerful than we all think. So I won't undermine that currency other than the fact it is fiat, and subject to the same fate as what USD, EUR and GBP will inevitably face.

Russia has a lot of gold. A lot. So at least their currency could be backed by a store of value commodity if they choose to.

But when it come Europe there is nothing so euro value might fall very soon becouse world don't need euro and nobody dont want junk eu debt bonds really when times getting harder people want food and commodities and natural resources but europe don't provide nothing to the world so no demand for euro currency either.
So If euro IS so useless what they might do with euro well they Will lower the rates and Will do super qe and print out Even more money and inflation in Europe Will go to Even much higher then it IS now.
Euro Will be printed a lot probably and exvhanged by smarter guys in to usd or gbp before the collapse of euro currency.
I Will sell most of my euro currency becouse i feel it Will start lose value fastest since no euro currency demand on the global markets.
Off course this euro value falling Will create BIG debt and BIG buildings in Europe but at the end europe Will be pretty much like soviet union when the Money printing stops and they cant hide euro with junk bonds and dirty swaps anymore then euro currency holders Will be victims of hyperinflation becouse currency Will lose value so fast If there is no demand by other nations and countries.

EUR is not the only fiat currency that fits into this bracket...and "smart guys" are already moving their money to better currencies than USD and GBP. Likely, they're moving to gold, bitcoin and other store of value currencies/assets, rather than another fiat currency that is just as junk as the other.

[ZAINmalik75]

The euro currency is not in trouble the whole financial world's currencies are in trouble because the inflation rate keeps increasing and somewhere it is high and somewhere it is low. For example, the inflation rate is high in Europe too and in my place too. But the degree of high inflation depends if the people change their location. For example, if i have to earn in Euro then the inflation rate in my place will be dealt with easily.

As 1 euro in here become 318 pkr and if i talk about the dollar then 1 us dollar here in my country equals to 286 pkr. So, from these numbers tell me why the amount of 1 dollar is lesser than 1 Euro. Because the euro is not in danger but every currency is. if we go back to when there was a debt ceiling, inflation, the next financial crisis, etc. fuds and problems are going on in the US then many said Dollar is in trouble.

Even the BRICS formation also threatens the economies using dollars. Because they were going to degrade dollar. not Euro. Euro has its own marketplace while the dollar targets its own users so we should not consider the euro a troubled currency. But we might say the inflation rate is increasing. And to that, i agree.

[avikz]

OP's understanding of the European economy is very flawed. Euro is the 8th most powerful currency in the world. Also if I look at the financial data, multiple financial superpowers like Germany, France, Italy and Spain comes under the top 15 list where Euro is their main currency. So I am really not sure why do you think that Euro is not needed. It definitely has a very powerful place in the world economics. Also as icalical had correctly pointed out - you are forgetting about their tourism. The data shows that 538 million global tourists have travelled to Europe for vacation. So I am sure EURO is not going to go down anytime soon unless a nuke war happens.

Reference:
https://www.cmcmarkets.com/en/learn-forex/16-strongest-currencies-in-the-world
https://globalpeoservices.com/top-15-countries-by-gdp-in-2022/
https://www.condorferries.co.uk/tourism-in-europe-statistics

[Fiatless]

In my opinion, the European economy is still the largest economy in the world, but one thing is that they are deadlocked, dependent and too dependent on the US. Every decision they make is heavily influenced by the US. The US always seeks to contain all other countries so that no one can surpass it, including its allies. If I remember correctly, the British pound was also the dominant currency in the world until the USD took its place. And before the British pound dominated the world currency, the currencies of countries such as Portugal, the Netherlands... were the dominant currencies, but today all are dependent and under the direction of the US.

The US and European market is interconnected making them depend on each other. Each time the US increases its interest rate it always has some negative impact on the European currency. Just like the US, European nations understand the world economy and they know how to manipulate it for their benefit. We are still expecting the much anticipated BRICS currency that is projected to give these dominant currencies the needed competition.

In my opinion, the European economy is still the largest economy in the world, but one thing is that they are deadlocked, dependent and too dependent on the US. Every decision they make is heavily influenced by the US. The US always seeks to contain all other countries so that no one can surpass it, including its allies. If I remember correctly, the British pound was also the dominant currency in the world until the USD took its place. And before the British pound dominated the world currency, the currencies of countries such as Portugal, the Netherlands... were the dominant currencies, but today all are dependent and under the direction of the US.

OP might be getting it wrong if he is measuring the economic power or the worth of a nation's currency by available natural resources. Currently, the most profitable resources are humans and technology. These nations might not gave gold, silver, oil, and gas but they have the brainpower to maximize these resources because of their technological advancement. Currently the artificial intelligence, medical, IT, and electronic private sectors in Europe are far richer than most countries that boast of essential mineral resources.

[lixer]

USD, Euro and Yuan are three fiat currencies that's really solid, I don't think one of them will failure because most of citizens are still believe in fiat currency as legal tender. I agree if fiat is worthless, but you need to compare Euro with other fiat currency, you will see Euro is strong as USD and Yuan.

However you have a choice to convert your fiat into Bitcoin and convert it back to fiat whenever you want to buy something in your country.

I agree that those three are quite strong. There will always be some people who see them going worse and think that they are going to keep being worse but the reality is that while they are going worse, other currencies go even worse, which is the trouble.

I believe that we are going to end up with a situation where it is going to take some time before people could make some changes, and because of that these three will stay as strong as possible. For that to change anytime soon, we need to reach to a point where it will have to be a lot bigger. I know that it will not be simple solution, but realizing them getting worse doesn't mean it's worse than other currencies is a way out for many people in the future without a doubt.

[Captain Corporate]

It is not about the power of the currency but the power of the nation(s) behind it. Sure the currency makes the nation powerful but also nation makes the currency powerful. We have seen Sterlin take a dip, it went down something like %20 in a few weeks span if I remember correctly a while back when their prime minister had to resign. Did that make UK weaker nation? Are we seeing them failing to even buy things they NEED, of course not they are still doing fine. Whereas in poorer nations like ours, we could see people having trouble getting what they need, at some point even food was so expensive that the government had to intervene and buy the food in order to sell cheaper. Its doing a bit better now, but still terrible, specially about rent, we have a huge problem, there are other nations who have the same issue, or even USA has this in some parts of it of course. So at the end of the day its just not about the currency between each other, but the governments facing each other that matters.

[serveria.com]

All those explanation, you forgot about tourist. European countries have always attracted millions or even billion tourist every year. Outside of Tech and Car stuff, tourism is one of the biggest export of European Countries. And those tourist will exchange their currency into Euro.
Other thing is that you might have valid point that Euro only sell for a luxury stuff, Sports Car, Designer Clothing, etc. But like it or not rich people will still buy those luxurious goods.

Regarding tourists, haven't you heard about the latest trend: many European cities are tired of tourists and are actually trying to get rid of them. Cities like Amsterdam and Venice are taking action to stop tourism. They are closing the cruise ship terminals, restricting river cruises, converting hotels into offices, imposing earlier closing times for clubs and pubs etc etc. IMO, this is the road to self-destruction. Stopping mass tourism is a really bad idea for the reasons you mentioned above.   

[dothebeats]

The European economy is still the largest in the world. Not to mention its large tourism incomes as Europe have a lot of places for tourist to enjoy and visit. Moreover, the number of luxury businesses in EU that is booming in the market currently. Hence, your points, in my opinion holds no bearing.

[legendbtc]

For now, in my opinion, the euro still has hope of becoming solid and sustainable. The ease of spending on travel or cross-border commercial transactions without the need for currency conversion has quickly helped this currency gain the support of the people. The euro became one of Europe's most significant successes and is now the second strongest currency in the world. The euro creates convenience, reduces costs for Europeans and businesses, And unifies the European economy into a bloc. The EU needs to come up with policies to strengthen the single currency. The euro will be a tool to enhance economic independence and self-reliance in trade and finance. The euro will support Europe's economic, business, and financial freedom. They will no longer have to depend on the US dollar.

[eightdots]

Your words are not completely accurate. There are hundreds of advanced European heavy industry that the world needs and imports, in addition to tourism, agriculture and banking services.

But the problem with the euro is that many countries (including the European countries themselves) do not want it and want the dollar instead of it. Unfortunately, Europe is subject to the United States, and therefore they cannot bypass the dollar and adopt the euro as a base currency instead of the dollar.

Europe is a great economic power, but it loses its role and power because it falls under American hegemony. I think that the United States exaggerates the Russian threat to Europe to keep Europe under its control.

There are hundreds of imported materials and the euro is not weak as mentioned. Not wanting the euro is not a new issue, but it does not negatively affect the euro.

As you said, American hegemony keeps the dollar strong.

I think Russia's threat to Europe is an important issue that needs to be addressed. Russia and the USA are the quarterback states. The back of what these states say is usually full.

Despite all that has been said, I don't think there will be anything that will devalue neither the dollar nor the euro. They continue this way. Power does not change hands easily. It is even more difficult, especially when it comes to money.

[Wend]

The euro will support Europe's economic, business, and financial freedom. They will no longer have to depend on the US dollar.

How will the Euro support the European economy when it is the prosperity of the economy that determines the value of their currency? If their economy collapses due to inflation, their currency will weaken a lot, and that is what is happening with the EU. How will the euro help them get rid of their dependence on the US? I really don't know what you are talking about because currency is a representation of the economic strength of a country, a bloc.

[TimeTeller]

All those explanation, you forgot about tourist. European countries have always attracted millions or even billion tourist every year. Outside of Tech and Car stuff, tourism is one of the biggest export of European Countries. And those tourist will exchange their currency into Euro.
Other thing is that you might have valid point that Euro only sell for a luxury stuff, Sports Car, Designer Clothing, etc. But like it or not rich people will still buy those luxurious goods.

Regarding tourists, haven't you heard about the latest trend: many European cities are tired of tourists and are actually trying to get rid of them. Cities like Amsterdam and Venice are taking action to stop tourism. They are closing the cruise ship terminals, restricting river cruises, converting hotels into offices, imposing earlier closing times for clubs and pubs etc etc. IMO, this is the road to self-destruction. Stopping mass tourism is a really bad idea for the reasons you mentioned above.   

They will know the impact of tourism to their economy when it will be gone.
However, there will always be tourists. I don't think they can totally eradicate the presence of it.
Unless, the government will not entertain visitors and block their entry to their country.
Which for me, is hard to do. We have seen this scenario during the pandemic days only.
And now, we are returning back to where we were. So mass tourism will always be here but maybe they can put some restrictions on it.

[Synchronice]

@stompix How did you miss this thread, someone says bad about Europe.

But when it come Europe there is nothing so euro value might fall very soon becouse world don't need euro and nobody dont want junk eu debt bonds really when times getting harder people want food and commodities and natural resources but europe don't provide nothing to the world so no demand for euro currency either.
So If euro IS so useless what they might do with euro well they Will lower the rates and Will do super qe and print out Even more money and inflation in Europe Will go to Even much higher then it IS now.
Euro Will be printed a lot probably and exvhanged by smarter guys in to usd or gbp before the collapse of euro currency.
I Will sell most of my euro currency becouse i feel it Will start lose value fastest since no euro currency demand on the global markets.
Off course this euro value falling Will create BIG debt and BIG buildings in Europe but at the end europe Will be pretty much like soviet union when the Money printing stops and they cant hide euro with junk bonds and dirty swaps anymore then euro currency holders Will be victims of hyperinflation becouse currency Will lose value so fast If there is no demand by other nations and countries.

I really wonder where you are. By the way, is the UK doing better after BRexit? And how can you really say that Europe does provide nothing? By the way, I want to remind you that EU countries remain top in food security index, European countries tremendously improved medical field and invented a lot of medicines, German engineering still remains the top. Europeans conquered the world, improved the quality of life absolutely everywhere and still Europe does very well, people here are hard workers and have a high quality of life. Have you really ever been in Europe? How can you say that we produce nothing and bring no value to the world, how can you really say that. It drives me crazy when people like you come in EU countries for asylum.
Google EU countries, google what each of them produce.

[pawel7777]

I really wonder where you are. By the way, is the UK doing better after BRexit? And how can you really say that Europe does provide nothing? By the way, I want to remind you that EU countries remain top in food security index, European countries tremendously improved medical field and invented a lot of medicines, German engineering still remains the top. Europeans conquered the world, improved the quality of life absolutely everywhere and still Europe does very well, people here are hard workers and have a high quality of life. Have you really ever been in Europe? How can you say that we produce nothing and bring no value to the world, how can you really say that. It drives me crazy when people like you come in EU countries for asylum.
Google EU countries, google what each of them produce.

Europe =/= EU. And not all EU countries are in the Eurozone. The EU started of as a free trade agreement between sovereign countries but is evolving into some strange, totalitarian monstrosity where, little by little, more competences are taking away from each country and ceded to the EU. It's like creating a super-state (United states of Europe) but without asking people for opinion. I don't think they even pretend to care about democracy anymore, plus there are full of double standards.
Because of overregulation and implementing weird laws (that benefit the strongest countries, mainly Germany), the Eurozone was one of the worst performing regions in terms of economical growth in the last decade.

[Sayeds56]

Your opinion is wrong. The EU economy is the third largest in the world, after the USA and China. On the other hand, I do not see the currency, the euro, as a bad thing. It is not as sought after as the dollar, but there are many developing countries with weak currencies where they accept euros as well as dollars, although not as many. It is certainly much better than most currencies in the world.

You are absolutely right, while European union is one of the top economies of the world but it ranks third after USA and China. European union is indeed a significant economic power house of the world, its combined GDP places it among top global economies. Euro is official currency of Euro zone and it is widely used not only among member countries of European union but also in international trade  and finance, and it ranks second after US Dollar.

I think the debit crisis started in 2009 had a significant impact on Euro's value against other major currencies and  caused overall economic instability in Europe.

[Synchronice]

Europe =/= EU. And not all EU countries are in the Eurozone. The EU started of as a free trade agreement between sovereign countries but is evolving into some strange, totalitarian monstrosity where, little by little, more competences are taking away from each country and ceded to the EU. It's like creating a super-state (United states of Europe) but without asking people for opinion. I don't think they even pretend to care about democracy anymore, plus there are full of double standards.
Because of overregulation and implementing weird laws (that benefit the strongest countries, mainly Germany), the Eurozone was one of the worst performing regions in terms of economical growth in the last decade.

Man, definitely I know that Europe and European union are two different things, sometimes I just use EU or Europe in both cases.
What was the point of Germany? To conquer Europe. Honestly, who is in charge of EU? Germany. With or without a war, the aim is achieved. Germany or France are by no means good guys, especially Germany.
Does Germany benefit from EU and Euro? Logically, we can say that poor nations push down Euro while Germany pushes it up, i.e. at the moment being in EU is expensive for Germany but at the same time, there are tremendous benefits and the major benefit is control on so many nations. EU on another hand is the united states of Germany. If language was not a barrier, I guess it would be called the USG or VSD (die Vereinigten Staaten von Deutschland).
I won't talk about trades, EU market, one currency and so on, because everyone mentions them when they talk about the benefits that Germany gets but there is another bigger benefit: What do you think, who does manual labor? German people? No, people from poor EU countries like Hungary, Romania, Czech and recently from Spain and Italy, they do jobs that no one wants to do. That keeps things cheap inside the country because no German person will work in warehouses on €12.82 per hour. Another benefit they get is that some German people, who own apartments, just rent it and live on that income. The situation for people who have houses in this country is like: Foreigners come in your country to work, you give them house, they leave half of their salary in rent, do all the shitty jobs and you live off of that. I don't say that this is something to be proud of, just saying how the reality looks but this situation exists in every rich nation but it really is a very smart move from the country: Create good economy and then let foreigners work for you while you get all the money and have fun.

So, democracy doesn't exist. No one is a kind. But let's be honest, if every EU country was united under Germany or France or UK like the states of the USA, would it be bad for them? Germany managed to become N4 economy in the world after WW2. This means that country and people are capable of things. I don't really want to disrespect anyone but just imagine, if we move every German people in Romania, will this country be still poor? Or will it turn into a rich, capable and powerful country?

I know I went tooooo far, pardon me, idk why did I went that far but don't really want to remove such a big text
Btw I think that Eurozone is one of the worst performing regions because of the influence of the USA. It's not like that EU is on it's own, the influence of the USA is there.

[Flexystar]

Oh yeah since hundreds and god knows how many years Euro is Euro with decent valuation so far. Have you seen other nations with values so low that if they are supposed to carry 100 EURO worth a cash then they will need entire backpack to do so. I am not targeting any country in negative ways but for the sake of comparison leave the Euro out of discussion. This really doesn’t seem right to even say that this currency will go down with the time just because they don’t have oil or other raw materials to make money. They make money, they make lot of money. As stated in the first post itself tourism is the biggest stake while IT is another followed by many other streams.

[Shortmaster]

The European economy is still the largest in the world. Not to mention its large tourism incomes as Europe have a lot of places for tourist to enjoy and visit. Moreover, the number of luxury businesses in EU that is booming in the market currently. Hence, your points, in my opinion holds no bearing.

There is no demand by other currencies for euro so much.
Yes europe printed a lot money economy is boosted and debt burden on people are highest.
That's all true but all this euro currency not backed by real things like USA oil and Even russian oil power to protect currency value.
If currency is large like euro then at least some high demand service or value should be backing up the currency without talking Even about commodities.
So it's Simple the euro needs to be backed on something real not just with bonds loans and debt anyone who knows about finances knows it's dangerous for euro currency value.

[mindrust]

Every FIAT currency is in trouble, not only Euro. It is because FIAT has no hard supply cap like bitcoin. Every FIAT currency in history died because of this reason. People tried to use gold backed currencies but we failed because we cheat. Bitcoin is honest. The supply is limited and there will never ever be more than 21 million bitcoins in existence. If people dump their FIAT for BTC maybe the central banks will take notice and stop printing useless papers but that's wishful thinking. We know they can't stop printing because it is their job to do so.

[aoluain]

Every FIAT currency is in trouble, not only Euro. It is because FIAT has no hard supply cap like bitcoin. Every FIAT currency in history died because of this reason. People tried to use gold backed currencies but we failed because we cheat. Bitcoin is honest. The supply is limited and there will never ever be more than 21 million bitcoins in existence. If people dump their FIAT for BTC maybe the central banks will take notice and stop printing useless papers but that's wishful thinking. We know they can't stop printing because it is their job to do so.

Absolutely, I'm not sure why the OP is focussing on the 3rd largest currency? so yea
raise the point of backing it up with something but that means central banks wont
be able to print their way out of/into trouble so easily so while we in general can complain
I'm not sure backing it up with some commodity or asset is going to be popular with
decision makers.

There is no demand by other currencies for euro so much.

There is quite a demand for € inside the eurozone though!

[DrBeer]

The euro currency is in trouble.
Why becouse world dont need euro to buy commodities or goods much.
World needs good germany good cars but can Do without them.
The euro currency value is high becouse of temporary rate hikes it creates only huge short term inside demand for euro inside europe but not in the world.
So USD we need world needs becouse oil and it's reserve currency still.
Gbp pound Also on high demand by other countries on forex markets.
China currency Also on high demand.
Russia currency Also needed highly becouse of natural resources in russia what other countries need.

But when it come Europe there is nothing so euro value might fall very soon becouse world don't need euro and nobody dont want junk eu debt bonds really when times getting harder people want food and commodities and natural resources but europe don't provide nothing to the world so no demand for euro currency either.
So If euro IS so useless what they might do with euro well they Will lower the rates and Will do super qe and print out Even more money and inflation in Europe Will go to Even much higher then it IS now.
Euro Will be printed a lot probably and exvhanged by smarter guys in to usd or gbp before the collapse of euro currency.
I Will sell most of my euro currency becouse i feel it Will start lose value fastest since no euro currency demand on the global markets.
Off course this euro value falling Will create BIG debt and BIG buildings in Europe but at the end europe Will be pretty much like soviet union when the Money printing stops and they cant hide euro with junk bonds and dirty swaps anymore then euro currency holders Will be victims of hyperinflation becouse currency Will lose value so fast If there is no demand by other nations and countries.

Well, that's a very ugly way of putting it.
In fact, the EU is the world's largest economic player. It's not just cars and reliable household appliances. It is also technology, aviation, the military-industrial complex, high semiconductor technology, agro-technology, medical equipment and technology. And all of this has a value, and in Euros - in Euros the cost, work, taxes,....
The Euro is also an ideal tool to support the weaker countries in this union. Imagine - how would Europe support Hungary, for example, if Hungary kept its Forints, Germany kept its Marks and France kept its Francs? 
So I'll be brief, sorry, but you are very wrong....

[stompix]

@stompix How did you miss this thread, someone says bad about Europe.

Stompix was sunbathing for 3 days on the Dalmatian coast in this ravaged Europe with the beaches full, the clubs and bistros, the airports full, the roads full of people enjoying a holiday. Everyone sees doom and gloom I see spending and people moving around more than ever.

Spain has just broken the 2019 pre-COVID record on arrivals and people talk about how shitty Europe is, but everybody wants a piece of it.
https://www.travelwires.com/may-2023-witnessed-spain-achieving-a-new-record-with-8-2-million-tourist-arrivals
I wonder why millions of people are drowning and getting killed by human traffickers to end up in this region. Must be the bad life we're having compared to Africa.

Russia currency Also needed highly becouse of natural resources in russia what other countries need.

One euro was worth 69 rubles at the start of 2020, it's now worth 99.
I want more of this trouble when the thing I have actually increased in value!

OP's understanding of the European economy is very flawed. Euro is the 8th most powerful currency in the world. https://www.cmcmarkets.com/en/learn-forex/16-strongest-currencies-in-the-world

That's a bad way to look at a currency, it takes just the value of one unit compared to the other.
By that logic, the Turkish lira is better than the yen and the Pakistani rupee than the South Korean won.

Anyhow, another topic on how the euro and the EU will die for the thousands time, but this time it's for sure.

[Synchronice]

Well, that's a very ugly way of putting it.
In fact, the EU is the world's largest economic player. It's not just cars and reliable household appliances. It is also technology, aviation, the military-industrial complex, high semiconductor technology, agro-technology, medical equipment and technology. And all of this has a value, and in Euros - in Euros the cost, work, taxes,....
The Euro is also an ideal tool to support the weaker countries in this union. Imagine - how would Europe support Hungary, for example, if Hungary kept its Forints, Germany kept its Marks and France kept its Francs?  
So I'll be brief, sorry, but you are very wrong....

No, EU is an enemy. These shit EU countries, including Germany, France, Netherlands, Switzerland and other ones offer free education to people from poor nations, give them possibility to increase their qualification and then return in their country to improve living there and establish an EU standard in their countries. Can you imagine how evil it is? Can you imagine that these evil Europeans are working hard and pay 42% of their income in taxes to benefit not only local but people from 3rd countries too.

@stompix How did you miss this thread, someone says bad about Europe.

Stompix was sunbathing for 3 days on the Dalmatian coast in this ravaged Europe with the beaches full, the clubs and bistros, the airports full, the roads full of people enjoying a holiday. Everyone sees doom and gloom I see spending and people moving around more than ever.

Spain has just broken the 2019 pre-COVID record on arrivals and people talk about how shitty Europe is, but everybody wants a piece of it.
https://www.travelwires.com/may-2023-witnessed-spain-achieving-a-new-record-with-8-2-million-tourist-arrivals
I wonder why millions of people are drowning and getting killed by human traffickers to end up in this region. Must be the bad life we're having compared to Africa.

I already booked the trip in Spain and wanna visit Portugal too. I wanted to go in Russia or in Belarus in August but it's only for elites and super wealthy people, so I decided to visit my poor Barcelona to spend a week in poverty (I call it a rest). Ahh, I don't know what to do, this shit work-life balance that we have in Europe is so hellish too, ohh my.

C'mon, C'moooon guys, wake up to reality. Hard-working EU countries are doing well, quality of life is very high, work-life balance is very good, free healthcare and quality of service is good, not super good but really good compared to the other countries. My only wish is that please don't worry about Europe, let's not talk about Europe, let us be left alone in poverty, please don't remind us that we are poor, it hurts our feelings.

[Sayeds56]

There is quite a demand for € inside the eurozone though!

Indeed, the volume of trade within Eurozone countries is remarkably high, in year 2022 the total trading volume recorded was more than 4 trillion Euros, which is very impressive and reflects fundamental strength of Euro. In my opinion the main factors driving the depreciation of Euro are as follows:

1- Heavy dependence of European countries on Russian oil and Gas has become a concern, particularly due to ongoing Ukraine war which added uncertainties to economic outlook of Eurozone, and impacted value of Euro.

2- Another significant factor is slow down in economic activity in China, that has also adversely affected Eurozone, as China being its largest trading partner.

https://cepr.org/voxeu/columns/euro-weakness-2022#:~:text=Three%20key%20factors%20have%20been,(Fed)%20and%20the%20ECB.

[Hydrogen]

The euro isn't backed by commodities, tech, natural resources, manufacturing or exports. This leads to questions of how to sustain their relatively high standard of living.

Americans have silicon valley, oil and natural resources. Tesla, apple, google, microsoft, twitter, facebook, etc. The highest statistic for newly minted millionaires and billionaires in the world.

While europe has no lack of desire to compete. Their road is an uncertain one.

[DrBeer]

Well, that's a very ugly way of putting it.
In fact, the EU is the world's largest economic player. It's not just cars and reliable household appliances. It is also technology, aviation, the military-industrial complex, high semiconductor technology, agro-technology, medical equipment and technology. And all of this has a value, and in Euros - in Euros the cost, work, taxes,....
The Euro is also an ideal tool to support the weaker countries in this union. Imagine - how would Europe support Hungary, for example, if Hungary kept its Forints, Germany kept its Marks and France kept its Francs?  
So I'll be brief, sorry, but you are very wrong....

No, EU is an enemy. These shit EU countries, including Germany, France, Netherlands, Switzerland and other ones offer free education to people from poor nations, give them possibility to increase their qualification and then return in their country to improve living there and establish an EU standard in their countries. Can you imagine how evil it is? Can you imagine that these evil Europeans are working hard and pay 42% of their income in taxes to benefit not only local but people from 3rd countries too.

Time to impose the harshest sanctions against the inhumane EU regime ! What kind of sadism is this - to give free education, to teach to create, to create, to generate profit ! And then also try to raise the standard of living in the country of the person who survived these terrible inhuman tortures with free excellent education and care about his future !!!! How long will the world tolerate such horrible abuse !?

Long live freedom from happiness, knowledge, skills, desire to want and be able to live well ! 

[kryptqnick]

As others have mentioned, the European economy is very large, as there are several big high-income countries that have EUR as their currency. There's also a perceived importance which Europe and EUR get, probably largely thanks to the history of colonialism, and a perceived value in other countries is important to determine the foreign demand, which in turn significantly affects the success of a currency. EUR is doing fine, successfully managing to reduce the inflation that was hit in 2022, and I don't think we're in for a relapse. If anything, I think EUR will actually get stronger because there are countries that may still adopt it at some point.

[pawel7777]

... but it really is a very smart move from the country: Create good economy and then let foreigners work for you while you get all the money and have fun.

Very short-sighted and you can already witness this approach is kicking the rich countries hard in the ass. Mass immigration always means drifting into a low-trust society, and for some strange reasons, the "poor immigrants" after some time are no longer satisfied in cleaning toilets and wiping asses in elderly care homes and want more than that. Not to mention that a large part of what meant to be a cheap labour (aka waves of "Syrian" refugees from Iraq and Afganistan) is not even interested in working at all or in learning the language. They prefer handouts.
Every single country that accepted mass immigration failed to assimilate them, so now they have no choice but to declare themselves post-national and multicultural and launch hard censorship to prevent people from calling things as they are. We can see the results of that in crime-stats, racial tensions and identity politics or in events like the recent riots in France.
It's almost like the money should not be the most important thing in the world and GDP is not a great metric for happiness.

if every EU country was united under Germany or France or UK like the states of the USA, would it be bad for them?

If you became a slave of a wealthy gentleman who would provide you safety, good food and expensive cloths - would it be bad for you?
It's a question of priorities.
To me a country is to a nation what home is to family. I'd much rather be poorer but sovereign. There are always some ways to acquire wealth, but once your country/nation is decomposed, there's simply no going back.

[The Hidebehinder]

I find it funny to see a topic like this being opened now, it would made a lot more sense one year ago!

The Euro was indeed down, it was loosing against the yuan and the usd and even went below the parity with the later, but it's back at 1.10 and in regards to the yuan the author claims is in higher demand it has gone above the 5 years median after dropping to 6.80, it currently sits at at 7.88.
So maybe the author was in a lockdown and just got released?

The euro isn't backed by commodities, tech, natural resources, manufacturing or exports. This leads to questions of how to sustain their relatively high standard of living.

Neither was the mark, the frank the lira or any other one but we're still doing great.
We might not have tesla and apple but we have every machine that actually makes it, everyone is talking about the China-US chip war but forgets without ASML there are no chips for either of them.  

[Wimex]

Europe has always seemed to me one of the most stable continents in terms of economy, I am very surprised by the way in which they have kept the value of their official currency balanced despite the fact that a large part of the countries that make up this area use it, since it must be difficult to maintain financial control with so many territories under a single organization, which is the ECB (European Central Bank). The system  have worked so far and they have been able to preserve the solidity of the euro to a certain extent, something that has not been possible to achieve even in small countries, and this can be seen if we make a comparison with Latin America specifically, in which it can be observed how the lack of order led to the instability of the official currencies of each nation, to the point of falling into quite remarkable inflation, therefore I believe that the euro will not fall as easily as you expect, it is true that it is not as demanded as the dollar but that  not makes it less, it is still as powerful as the assets of the greatest powers.

[DrBeer]

There is quite a demand for € inside the eurozone though!

Indeed, the volume of trade within Eurozone countries is remarkably high, in year 2022 the total trading volume recorded was more than 4 trillion Euros, which is very impressive and reflects fundamental strength of Euro. In my opinion the main factors driving the depreciation of Euro are as follows:

1- Heavy dependence of European countries on Russian oil and Gas has become a concern, particularly due to ongoing Ukraine war which added uncertainties to economic outlook of Eurozone, and impacted value of Euro.

2- Another significant factor is slow down in economic activity in China, that has also adversely affected Eurozone, as China being its largest trading partner.

https://cepr.org/voxeu/columns/euro-weakness-2022#:~:text=Three%20key%20factors%20have%20been,(Fed)%20and%20the%20ECB.

Point 1 - already fixed. The new German government, after what the Kremlin bastards like Schroeder and Merkel did, managed to break the gas monopoly on gas for industrial production and replace gas from the country of international terrorist with gas from adequate countries.
Oil is also a solvable issue, but it is a bit more complicated, as significant volumes of production and supplies are in the hands of some countries, which, to put it mildly, are far from adequate ) But the world will "cure" this too ...

[Synchronice]

The euro isn't backed by commodities, tech, natural resources, manufacturing or exports. This leads to questions of how to sustain their relatively high standard of living.

Americans have silicon valley, oil and natural resources. Tesla, apple, google, microsoft, twitter, facebook, etc. The highest statistic for newly minted millionaires and billionaires in the world.

While europe has no lack of desire to compete. Their road is an uncertain one.

Europeans don't own leader tech companies, they are pretty back in 90s when it comes to tech companies. Btw Spotify was founded in Sweden. But Europe is pretty good in other things, some of the most famous European companies are: Volkswagen, Glencore, Airbus, Siemens, Nestle, ASML and so on. You are definitely out of your mind if you really say that EU has an uncertain road and their high quality of life is not actually based on hard work and good progress.

It's almost like the money should not be the most important thing in the world and GDP is not a great metric for happiness.

Actually, the more educated you are, the less happier you get because you overthink and understand the cruelty of this world. I would say that religious people in poor countries with good social bonds are the happiest people.

if every EU country was united under Germany or France or UK like the states of the USA, would it be bad for them?

If you became a slave of a wealthy gentleman who would provide you safety, good food and expensive cloths - would it be bad for you?
It's a question of priorities.
To me a country is to a nation what home is to family. I'd much rather be poorer but sovereign. There are always some ways to acquire wealth, but once your country/nation is decomposed, there's simply no going back.

There is no free poor country in this world, they depend on big and powerful countries, they are just under an illusion of freedom while getting financial aid and import food/drink/tech from powerful countries and do shit summer jobs in these countries and so on.
That's just my opinion but I think there is nothing wrong with joining a strong and powerful country. If you can't do things on your own and don't know how to do and struggle alone, then you need a mentor.
Would England, Scotland and Wales be powerful on their own? Or does the UK sound better? Even Ireland took English as an official language and changed it's strategy to end poverty in their country.

[legendbtc]

The euro will support Europe's economic, business, and financial freedom. They will no longer have to depend on the US dollar.

How will the Euro support the European economy when it is the prosperity of the economy that determines the value of their currency? If their economy collapses due to inflation, their currency will weaken a lot, and that is what is happening with the EU. How will the euro help them get rid of their dependence on the US? I really don't know what you are talking about because currency is a representation of the economic strength of a country, a bloc.

Why do I say, '' They will no longer have to depend on the US dollar''? Because the dollar has long been considered the sole international trade currency. The US dollar has dominated the financial world for nearly eight decades since the end of World War II. It is still the main currency of transactions. Much of global trade uses USD. Countries reserve USD to maintain their exchange rates, making it the dominant international currency. Today, nearly 60% of foreign exchange reserves held by central banks worldwide are in USD. Globally, USD is considered by investors as a haven asset. Many countries want to reduce their dependence on USD, typically Russia, China, and even countries in the EU.

[DrBeer]

The euro will support Europe's economic, business, and financial freedom. They will no longer have to depend on the US dollar.

How will the Euro support the European economy when it is the prosperity of the economy that determines the value of their currency? If their economy collapses due to inflation, their currency will weaken a lot, and that is what is happening with the EU. How will the euro help them get rid of their dependence on the US? I really don't know what you are talking about because currency is a representation of the economic strength of a country, a bloc.

Why do I say, '' They will no longer have to depend on the US dollar''? Because the dollar has long been considered the sole international trade currency. The US dollar has dominated the financial world for nearly eight decades since the end of World War II. It is still the main currency of transactions. Much of global trade uses USD. Countries reserve USD to maintain their exchange rates, making it the dominant international currency. Today, nearly 60% of foreign exchange reserves held by central banks worldwide are in USD. Globally, USD is considered by investors as a haven asset. Many countries want to reduce their dependence on USD, typically Russia, China, and even countries in the EU.

How would you say so, so as not to injure the mentality
But ... European countries did not depend on the dollar as the currency of the world economy If you at least study history a little - in the countries of Europe, before the introduction of a single currency, they used ... NO, not dollars .. Marks, pounds, francs , pesetas, lyres,...
The reason for the creation of the EURO and the Eurozone is an attempt, and quite successful, to create a powerful, unified economy in Europe in order to obtain greater efficiency in the global economic arena.
Why are there people who believe that the sunrise, the fall of an apple from a tree, the wind in the window, the neighbor singing, the discount on bananas in the supermarket - this is all for the sake of "fighting the dollar"?! 

[Litzki1990]

European countries use the Euro directly, but countries outside of Europe do not use the Euro as much as the US dollar. The popularity of the US dollar is due to the fact that the US dollar is the global currency so far. Since you brought up the topic of buying a car, I am telling you that suppose you went to buy a car in a certain country, in that case, you have to pay for the car in the local currency of that country or in US dollars. If you want to pay in euros while buying that car, then never accept Euros for your payment. If the euro is a global currency like the US dollar, you can use the euro anywhere. Another thing you may have noticed is the benefit of a global currency when one's assets are calculated in US dollars.

[DrBeer]

European countries use the Euro directly, but countries outside of Europe do not use the Euro as much as the US dollar. The popularity of the US dollar is due to the fact that the US dollar is the global currency so far. Since you brought up the topic of buying a car, I am telling you that suppose you went to buy a car in a certain country, in that case, you have to pay for the car in the local currency of that country or in US dollars. If you want to pay in euros while buying that car, then never accept Euros for your payment. If the euro is a global currency like the US dollar, you can use the euro anywhere. Another thing you may have noticed is the benefit of a global currency when one's assets are calculated in US dollars.

You have to understand one simple thing - the dollar was chosen by the WHOLE world as the universal unit of calculation. It was not the U.S. that forced everyone, it was the world that came to realize that unification of international settlements is convenient and profitable for everyone!
The most understandable example - you have a huge supermarket nearby. It is an analog of the world market - there are products and goods from a huge number of manufacturers and countries. But at the cash register you pay for everything in ONE currency. You do not pay separately, for each product, in a separate currency ! According to the "fighters against the dollar", such a mechanism of convenient payment is evil
Europe did the same thing by unifying payments and the cost of goods and services between geographically close countries by introducing a single currency, the EURO. And it is convenient !

[Poker Player]

You have to understand one simple thing - the dollar was chosen by the WHOLE world as the universal unit of calculation. It was not the U.S. that forced everyone, it was the world that came to realize that unification of international settlements is convenient and profitable for everyone!

It's not like that, there was an agreement of only 44 countries, so not the "WHOLE" world as you say, and the agreement was not about the dollar alone, it was about a USD convertible to gold, which Nixon ended in 1971, fact that is at the basis of the modern economy, the fiat and its massive printing and one of the main reasons if not the main one why Bitcoin was created.

[Gyfts]

This is not entirely correct. If the world geopolitical stance went against the U.S., this would not mean the end of oil. It would mean the end of the USD, and another reserve currency will take its place. Oil is just another commodity, and it is only under the tyranny of the U.S. due to its global dominance. One day, this might not be the case.

This is exactly correct. I see this misconception about USD a lot. USD is backed by commodities plus military strength. The U.S. is years ahead every other country in military R&D, with China being behind them, and that puts high value on USD for stability reasons. It's why oil prices can collapse and USD can still main resilient. The U.S. economy can have trouble and it still won't send people running away from USD entirely.

Venezuela's currency is entirely backed by oil, and when oil crashed, so did their economy. You cannot merely have a currency built upon a commodity.

[Darker45]

Well, all fiat currencies are problems. They just differ in degrees. They're all slowly crumbling down. They basically share the same doctrine. The euro is relatively younger, though. And while you are criticizing it as one big problem, if we compare the euro with other fiat currencies in the world, it's actually doing much better. Even if some member countries of EU itself don't like the euro and even prefer to use another currency, the euro actually remains widely used. It's the second most used currency in the world.

[wxa7115]

Well, all fiat currencies are problems. They just differ in degrees. They're all slowly crumbling down. They basically share the same doctrine. The euro is relatively younger, though. And while you are criticizing it as one big problem, if we compare the euro with other fiat currencies in the world, it's actually doing much better. Even if some member countries of EU itself don't like the euro and even prefer to use another currency, the euro actually remains widely used. It's the second most used currency in the world.

The biggest problem for the euro is the EU itself, what I mean by this is that the political union between the countries is weak, the US has been a united country for hundreds of years, so even if there are differences between some regions of the country about a polemic topic they will keep the US together no matter what.

But the history of Europe is full of conflicts between each other, with the most recent conflict being the war at Ukraine, so I do not think the political union will last for long, and once it is broken the economic union and the euro will be gone too.

[Don Pedro Dinero]

The biggest problem for the euro is the EU itself, what I mean by this is that the political union between the countries is weak, the US has been a united country for hundreds of years, so even if there are differences between some regions of the country about a polemic topic they will keep the US together no matter what.

You have no idea. If we count from the end of the Civil War it would be 158 years, so "hundreds" is not very accurate, more like a hundred and something.

But the history of Europe is full of conflicts between each other, with the most recent conflict being the war at Ukraine,

So what? Neither Russia nor Ukraine is part of the European Union or the Euro, which is what we are talking about.

so I do not think the political union will last for long, and once it is broken the economic union and the euro will be gone too.

I give your opinion the same credibility as a child giving me lessons on shaving, because not all EU countries use the Euro to begin with, and your arguments in the post couldn't be any poorer.

[Sarah Azhari]

I Will sell most of my euro currency becouse i feel it Will start lose value fastest since no euro currency demand on the global markets.
Off course this euro value falling Will create BIG debt and BIG buildings in Europe but at the end europe Will be pretty much like soviet union when the Money printing stops and they cant hide euro with junk bonds and dirty swaps anymore then euro currency holders Will be victims of hyperinflation becouse currency Will lose value so fast If there is no demand by other nations and countries.

You want to sell your Euro with what currency? USD?, I think it's the same situation when you convert back your fiat into another fiat. Sure, you will calm down after that, and you will be comfortable it temporarily, because, on the other side, Fiat will be connected with others, and will get the same result as before. because fiat has a central bank to control another fiat even stand in another country, It's a different situation when you convert your Euro into Cryptocurrency. maybe it could be profitable, it depends on what cryptocurrency you have invested.

[Essential10]

The euro currency is in trouble.
Why becouse world dont need euro to buy commodities or goods much.
World needs good germany good cars but can Do without them.
The euro currency value is high becouse of temporary rate hikes it creates only huge short term inside demand for euro inside europe but not in the world.
So USD we need world needs becouse oil and it's reserve currency still.
Gbp pound Also on high demand by other countries on forex markets.
China currency Also on high demand.
Russia currency Also needed highly becouse of natural resources in russia what other countries need.

But when it come Europe there is nothing so euro value might fall very soon becouse world don't need euro and nobody dont want junk eu debt bonds really when times getting harder people want food and commodities and natural resources but europe don't provide nothing to the world so no demand for euro currency either.
So If euro IS so useless what they might do with euro well they Will lower the rates and Will do super qe and print out Even more money and inflation in Europe Will go to Even much higher then it IS now.
Euro Will be printed a lot probably and exvhanged by smarter guys in to usd or gbp before the collapse of euro currency.
I Will sell most of my euro currency becouse i feel it Will start lose value fastest since no euro currency demand on the global markets.
Off course this euro value falling Will create BIG debt and BIG buildings in Europe but at the end europe Will be pretty much like soviet union when the Money printing stops and they cant hide euro with junk bonds and dirty swaps anymore then euro currency holders Will be victims of hyperinflation becouse currency Will lose value so fast If there is no demand by other nations and countries.

The Euro is the world's second largest reserve currency. The combined reserve of the currencies of the rest of the world except the United States is equal to the euro. It is used by 20 countries of the euro zone.  But analysts call 2022 the worst year in the history of the euro. They say, the relevance of the euro is decreasing. The currency has lost 16% of its value against the dollar in the past year. The European monitoring union will be under more pressure if the inflation crisis leads to a prolonged economic recession, a period of rising inflation and falling domestic incomes that could lead to a breakdown of the EU if member states' political differences widen. In that case, the Central Bank of the European Union should bring it under control. In that case, the central bank has to increase the interest rate and it has to be implemented very quickly. Since there is no other way to curb such inflation, reforms or productivity can be thought of, digitization of the economy can be promoted. Even if it is fully successful, the EU still has a long way to go.

[DrBeer]

You have to understand one simple thing - the dollar was chosen by the WHOLE world as the universal unit of calculation. It was not the U.S. that forced everyone, it was the world that came to realize that unification of international settlements is convenient and profitable for everyone!

It's not like that, there was an agreement of only 44 countries, so not the "WHOLE" world as you say, and the agreement was not about the dollar alone, it was about a USD convertible to gold, which Nixon ended in 1971, fact that is at the basis of the modern economy, the fiat and its massive printing and one of the main reasons if not the main one why Bitcoin was created.

See how good you are, and you found the information. Question - why didn't you read it in full?

I know very well about these events. But let's get back to the FULL story:
"A new international monetary system was established by delegates from forty-four countries at Bretton Woods, New Hampshire, in July 1944. Delegates at the conference agreed to create the International Monetary Fund and what became the World Bank Group. The system of currency convertibility that originated at Bretton Woods lasted until 1971."

Nothing here confuses you ?

And one more question - ok, only 44 countries were initiators, then who FORCED the other 150+ countries to adopt this scheme, if it is so inconvenient, and only works in favor of the US ?

I would be glad to hear your reasoned clarifications ?

[pawel7777]

There is no free poor country in this world, they depend on big and powerful countries, they are just under an illusion of freedom while getting financial aid and import food/drink/tech from powerful countries and do shit summer jobs in these countries and so on.

What do you mean by "free"? I don't think there's a single self-sufficient country that's not dependent on others, in one way or another, so by that logic no country is free. The entire West is dependent on imports from China, should they just opt to be annexed by it just for the sake of creating ultimate "power"?

That's just my opinion but I think there is nothing wrong with joining a strong and powerful country. If you can't do things on your own and don't know how to do and struggle alone, then you need a mentor.

Would you like your family to be absorbed by a bigger and more powerful family (in which you'd have effectively no say). Would you let another man have authority over you, your wife and children if it meant more money and safety? Would that make YOU more or less powerful?
Let's not try to paint weakness as a virtue.
A mentor is someone who helps you become competent and independent, not someone who tries to take control over you.

Would England, Scotland and Wales be powerful on their own? Or does the UK sound better? Even Ireland took English as an official language and changed it's strategy to end poverty in their country.

Are Scotland or Wales powerful at all? They're part of the UK but what power do they each have? Does any of them have any real impact on the decisions in the UK? Both countries decided to keep their own parliaments for some reasons though, unlike England, which doesn't need one as it controls the British one. About half of Scotland wants independence from the UK, but they're still reliant on whether or not the British parliament let them have another referendum on that.

Not sure how's the language relevant, but it's not quite like Ireland chose to speak English out of their free will, did they? It was forced on them under the British occupation and they decided to stick to it. On the contrary, much smaller Wales still have their own language and they'd teach it to their children in schools, with English being the second one.

[justdimin]

European countries use the Euro directly, but countries outside of Europe do not use the Euro as much as the US dollar. The popularity of the US dollar is due to the fact that the US dollar is the global currency so far. Since you brought up the topic of buying a car, I am telling you that suppose you went to buy a car in a certain country, in that case, you have to pay for the car in the local currency of that country or in US dollars. If you want to pay in euros while buying that car, then never accept Euros for your payment. If the euro is a global currency like the US dollar, you can use the euro anywhere. Another thing you may have noticed is the benefit of a global currency when one's assets are calculated in US dollars.

I am not entirely sure about that, but even if that's the case Europe already has a lot of rich nations within it and that means they are going to end up keep using it for sure. That's why I feel like it is not going to be that much of a big deal, it is going to end up being a bit difficult but will be better in the end. They are also used in some other nations as well, maybe not as much as dollar, but they are still used and that means they are going to get a good return.

The only funny thing I find about euro is that they have 500 euro bill, the average wages around Europe is about 3 thousand euro in good nations, and much less in other nations, so they have a system where even in the richest nations it is just 6 bills for your entire salary .

[teosanru]

The euro currency is in trouble.
Why becouse world dont need euro to buy commodities or goods much.
World needs good germany good cars but can Do without them.
The euro currency value is high becouse of temporary rate hikes it creates only huge short term inside demand for euro inside europe but not in the world.
So USD we need world needs becouse oil and it's reserve currency still.
Gbp pound Also on high demand by other countries on forex markets.
China currency Also on high demand.
Russia currency Also needed highly becouse of natural resources in russia what other countries need.

But when it come Europe there is nothing so euro value might fall very soon becouse world don't need euro and nobody dont want junk eu debt bonds really when times getting harder people want food and commodities and natural resources but europe don't provide nothing to the world so no demand for euro currency either.
So If euro IS so useless what they might do with euro well they Will lower the rates and Will do super qe and print out Even more money and inflation in Europe Will go to Even much higher then it IS now.
Euro Will be printed a lot probably and exvhanged by smarter guys in to usd or gbp before the collapse of euro currency.
I Will sell most of my euro currency becouse i feel it Will start lose value fastest since no euro currency demand on the global markets.
Off course this euro value falling Will create BIG debt and BIG buildings in Europe but at the end europe Will be pretty much like soviet union when the Money printing stops and they cant hide euro with junk bonds and dirty swaps anymore then euro currency holders Will be victims of hyperinflation becouse currency Will lose value so fast If there is no demand by other nations and countries.

But how exactly is that a problem? If you'll let's say forego Euro and bring different currencies for all the European countries even in that case the demand isn't going to increase for sure right? With an unified country currency you'll atleast have the chance of getting some aggregate demand and thus keeping the value of that currency intact. So how exactly do you propose a solution for this?

[Synchronice]

There is no free poor country in this world, they depend on big and powerful countries, they are just under an illusion of freedom while getting financial aid and import food/drink/tech from powerful countries and do shit summer jobs in these countries and so on.

Okay, let's talk about Ukraine. Is Ukraine independent? On paper, it looks so but in reality, let's look deep. It's located between EU countries and Russia, both of them have their own interests. Russia wants to expand, EU wants to expand, Ukraine wants to be on its own but Ukraine isn't powerful enough but the powerful ones want to take it over. Isn't it so? Do you really think that West doesn't have its interest in Ukraine? Both, Russia and West have their own interests and there is a war between West and Russia on the field of Ukraine. Ukraine is a war field.

That's just my opinion but I think there is nothing wrong with joining a strong and powerful country. If you can't do things on your own and don't know how to do and struggle alone, then you need a mentor.

Would you like your family to be absorbed by a bigger and more powerful family (in which you'd have effectively no say). Would you let another man have authority over you, your wife and children if it meant more money and safety? Would that make YOU more or less powerful?
Let's not try to paint weakness as a virtue.
A mentor is someone who helps you become competent and independent, not someone who tries to take control over you.

No, this example is not a good example there. Usually, women prefer strong men and if man is a weak, poor and coward, wife will divorce him. Weak man can't provide wife and kids, can't protect them in danger. Man has to be strong to maintain authority over his wife and children. So, yeah, in real life, you have to be strong to be independent, this is the brutal reality.
Personally, I am focused on improving myself, I feel the pressure to be competitive in every aspect of life, so, definitely I'll have an authority on them.

Would England, Scotland and Wales be powerful on their own? Or does the UK sound better? Even Ireland took English as an official language and changed it's strategy to end poverty in their country.

Are Scotland or Wales powerful at all? They're part of the UK but what power do they each have? Does any of them have any real impact on the decisions in the UK? Both countries decided to keep their own parliaments for some reasons though, unlike England, which doesn't need one as it controls the British one. About half of Scotland wants independence from the UK, but they're still reliant on whether or not the British parliament let them have another referendum on that.

Not sure how's the language relevant, but it's not quite like Ireland chose to speak English out of their free will, did they? It was forced on them under the British occupation and they decided to stick to it. On the contrary, much smaller Wales still have their own language and they'd teach it to their children in schools, with English being the second one.

I don't think it will be better if Scotland and Wales were on their own. If Wales, England and Scotland become independent, then they'll have independent currencies, GBP for England and two other for Wales and Scotland. If they want to trade between each-other, they'll have import tax, currency exchange fees, etc.
Ireland decided to stick to it because English is the most beneficial language to own. England conquered the world, a lot of powerful countries, like the USA, Canada, Australia, New Zealand, the UK speak English language, at the same time English is an international language. If you want to adopt modern technologies, science, attract talented immigrants and so on, it's better if the whole nation speaks English. I think that was a very wise choice and probably forced choice too, but not bad.

[BenCodie]

This is not entirely correct. If the world geopolitical stance went against the U.S., this would not mean the end of oil. It would mean the end of the USD, and another reserve currency will take its place. Oil is just another commodity, and it is only under the tyranny of the U.S. due to its global dominance. One day, this might not be the case.

This is exactly correct. I see this misconception about USD a lot. USD is backed by commodities plus military strength. The U.S. is years ahead every other country in military R&D, with China being behind them, and that puts high value on USD for stability reasons. It's why oil prices can collapse and USD can still main resilient. The U.S. economy can have trouble and it still won't send people running away from USD entirely.

Venezuela's currency is entirely backed by oil, and when oil crashed, so did their economy. You cannot merely have a currency built upon a commodity.

Exactly. Military strength and fear too..

People wonder why the U.S. were the first to start nuclear bomb testing, or why so many nuclear bombs have been created (and dropped) to date. The reason is simple, power and fear. All of that drives the usage of the USD, so that countries fear their reign and fear building an economy outside of the U S. More military power = more fear of countries subservient to the U.S. (this principle also applies to other super powers of course, except the U.S. is likely to be the seed).

It's sad, however it's the truth. Currently, currency isn't backed at all by love but backed by fear. Fear of military threat, fear of impossible survival, fear of tyranny. "In god we trust"? It should be, "In fear we obey".