Global Q&A: ‘Do you think it was a good idea to have a common European currency?’

Borris Salazar Villablanca, Puerto Montt, Chile. (The Epoch Times)

Unity, business, and ease of travel throughout European countries using a common currency are valued outcomes of the euro when Epoch Times reporters from Chile to the USA discovered when they asked locals:

Puerto Montt, Chile Rosita Rebolledo Hernandez, 32, General Treasurer Well, in order to compete, you have to unite; there are many advantages in having a common currency. There are many reasons it is the second trading currency in the world. Also, before the euro, there was the ECU (European Currency Unit). Now that they have been dragged through a crisis, it does not necessarily mean that it was a bad idea having the member countries unify for monetary equilibrium (common currency). It is unfortunate that in South America there is no common currency, apart from not getting out of our underdevelopment.

Cartagena, Colombia German Alvarez, 29, Systems Engineer Of course yes. The euro has a lot of advantages for businesses and consumers. For example, it is a great advantage to be able to hop on a plane or train, and travel to any of the main European destinations and use the same money. If it were the case to adopt the euro as currency in Colombia, this would represent confidence, and a new face to our economic policies, and then I think it was a good idea for EU countries.

Mbeya, Tanzania Dr. David Magogo, 77, Retired Eye Doctor Yes, indeed. It is important that all the European countries have a common currency. One, it’s a sign of unity, and also it might help the money crisis and other countries.

Lima, Peru Américo Herrera, 31, Lawyer I don’t think it was a good idea. The countries of Europe were not on the same economic level, so they were destined to fail; on the other hand, the states were worried most about social programs to help the unemployed and low-income people. I believe that these programs create more costs to the state and people get used to it.

Huskvarna, Sweden Samuel Jakobsson, 39, Café Owner In Sweden, we do not have the European currency. Upon seeing the turbulence in other European countries, I think it’s a good thing that we have our own currency. The falling economies in some nations affect all other European countries to a certain extent, including us. That is my spontaneous response to it.

San Roque (Cadiz), Spain Jessica Franco Marín, 23, Shop Assistant Well, at the beginning, it wasn’t a real benefit in Spain because everybody used it to round up the prices, so it was a little shock at first. Now, to be honest, it is good in the sense that it makes for very comfortable travel all over Europe, without worrying about currencies.

Dubai, United Arab Emirates Ahmad Hasaan Kazi, 21, Finance Student Well, the impact of the European common currency on countries depends on the exchange rates. For example, countries which have a favorable exchange rate, common currency is good for them; but countries that have a high exchange rate, common currency is not advantageous for them. So, it varies from country to country depending on each country’s exchange rate.

Look for the Global Q&A column every week. Epoch Times correspondents interview people around the world to learn about their lives and perspectives on local and global realities. Next week’s global question: “What’s the best thing about your country?”