3 ms·
> It was "intended" when the price was originally set. The goal was that the European economy would keep its ratio to the US roughly the same. This is just a b
by kergonath 4y ago
> It was "intended" when the price was originally set. The goal was that the European economy would keep its ratio to the US roughly the same.
This is just a baseless assertion you’ve made repeatedly. You should provide some source and be a tad less aggressive about it if you want to be convincing.
- lh7777 4y agoI'm no expert here, but was interested in why EUR has always been somewhat close in value to USD instead of being worth a lot more or a lot less, so I tried to look it up. EUR was set 1:1 to a previous unit of account (not a circulating currency) called the European Currency Unit (ECU), which was set 1:1 to an even earlier iteration, the European Unit of Account (EUA). According to Wikipedia, EUA "was defined as 0.888671 grams of gold, or one US dollar."[1] This was in 1962 when the US was on the gold standard. USD and ECU/EUA began drifting apart starting in 1971 when we abandoned the gold standard. So I guess you could say that the original intent was for dollar parity, but that decision was pretty far removed from the creation of the euro over 30 years later. [1]: https://en.wikipedia.org/wiki/European_Unit_of_Account https://en.wikipedia.org/wiki/European_Unit_of_Account
- deleted 4y ago[deleted]