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Why doesn't the European Union and the UK just adopt the US dollar?
by trentmb 12y ago
Why doesn't the European Union and the UK just adopt the US dollar?
- pjc50 12y agoEffectively this is what the Bretton Woods system was. It has the limitation that states then have to maintain a neutral balance of payments (imports+investment in = exports+investment out). This turns out to be much harder than it sounds, especially in a world of expensive post 1971 oil and even more so given post 2005 oil prices.
- pjc50 12y agoWell, I didn't expect _that_ to get downvoted.