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Panama only ever had its own currency for a few years beginning in 1941. When Panama separated from Colombia, it used dollars. An anti-American president was el
by pseingatl 9y ago
Panama only ever had its own currency for a few years beginning in 1941. When Panama separated from Colombia, it used dollars. An anti-American president was elected and proposed a national currency. No one accepted it. He was soon deposed later. Panamanian coins are the same size, weight and composition of U.S. coins and are minted by the U.S. mint. Panama retains the Kennedy-size half dollar and did not adopt the new US $1 coin.
- omegaworks 9y agoRattling off a list of tangentially related facts doesn't make the point I made untrue. Sovereignty is relinquished with control of currency. Democratically opposed austerity can be imposed from those in charge of the currency. https://www.theguardian.com/business/2015/jul/12/greek-crisis-surrender-fiscal-sovereignty-in-return-for-bailout-merkel-tells-tsipras https://www.theguardian.com/business/2015/jul/12/greek-crisi... Currencies are tricky, but countries will (and should) go to incredible lengths to keep them working. http://www.npr.org/sections/money/2010/10/04/130329523/how-fake-money-saved-brazil http://www.npr.org/sections/money/2010/10/04/130329523/how-f... Panama wouldn't exist in its current form without the influence of the United States on its history, so it's position as a vassal country with a pinned currency may be the only one it can occupy with any stability. https://en.wikipedia.org/wiki/Separation_of_Panama_from_Colombia https://en.wikipedia.org/wiki/Separation_of_Panama_from_Colo...