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i'm not sure what you mean by euro crisis but if you are asking why euro failed, it shows exactly why bitcoin will not work. euro is an attempt to use single cu
by thkim 9y ago
i'm not sure what you mean by euro crisis but if you are asking why euro failed, it shows exactly why bitcoin will not work. euro is an attempt to use single currency for different economies. euro failed because it ignores simple fact that different economies need different currency value to stabilize their economy. reason why portugal ireland greece spain are suffering worse than it should be is because those countries lost their power to control currency to european bank.
- deleted 9y ago[deleted]
- dmichulke 9y ago> reason why portugal ireland greece spain are suffering worse than it should be is because those countries lost their power to control currency to european bank. So you're saying there is no way to have a stable economy without control over your currency?
- topranks 9y agoMonetary policy is hugely important yes.
- dreamfactored 9y agoMany countries have big internal variations within areas, just as much as between other countries - by your logic why is it not just as necessary to have separate currencies for California, Southern Italy etc? London, New York, Shanghai, Paris, Singapore would be better served by a common currency than their national ones according to this line of logic, and given that they make up significant proportions of the economy for their respective nations, you'd think that enforcing use of the local currency is hugely damaging for their economies.