Who's idea was it to make the Euro Dollar and why? What countries have the Euro Dollar as their currency?

Answer 1

Please do not listen to Sagi29, especially since Paris is not a country, it is a city in France.
The people who came up with the Euro-Dollar were the founding countries of the EU (European Union). The Euro-Dollar was put together in order to have a common currency amongst the members, this allows for ease of trade. Check online for those countries that have brought in the Euro-Dollar, as there are still some members who have not fully adopted that as their currency internationally. The Euro-Dollar is predicted to become the currency of choice for trade internationally in the future (overtaking the US dollar).

Answer 2

As has already been pointed out, the proper term is Euro, not Euro Dollar.

The currency was created by the European Union and was optional for members. In fact, the members were required to meet certain monetary requirements before joining and some of those members, Italy in particular, are currently in danger of falling out of the Euro area, as it is called.

The currency came into being in 1999. The current members are:
* Belgium
* Germany
* Greece
* Spain
* France
* Ireland
* Italy
* Luxembourg
* The Netherlands
* Austria
* Portugal
* Finland


The Euro is managed by the European Central Bank, located in Frankfurt Germany.

Some of the reasons for creating a common currency included: removing economic obstacles, i.e. conversion costs, between member states; providing an alternative reserve currency to the US dollar; increase transparency in pricing between european countries.

Answer 3

It was an idea that was presented by a consortium of Euro-area nations.

A single currency has many benefits; it eliminates having to hedge against exchange rate fluctuations, you don't have to change currency every 200 miles, etc.

It also has some disadvantages - the entire area has to respond to the same monetary policy.

For example; if some countries are facing a slowing economy, and others are facing an overheating economy; a change in monetary policy would likely hurt some countries and help others.

In the long-term, there is a lot of skepticism relating to the Euro simply because labor and capital is not freely mobile between Euro-area nations; whereas in the US they are.

Answer 4

It is NOT CALLED THE EURO DOLLAR. There is a currency in use in Europe called the Euro. And there is a currency in use in the United States of America called the Dollar. There is no such thing as a Euro Dollar. Thank you.

Answer 5

Paris Italy, and some other European countries