Do you think Canada, the USA, and Mexico should switch to the same currency?

Question

Why or why not? I am personally against it.

Answer 1

This isn't like Europe and the Euro. The US represents 90% of the group's total economy, so there'd be no thought of a new currency and a union -- the US would have nothing to gain. The only question is, do Canada and Mexico have anything to gain by eliminating their sovereign monetary systems and just adopting the US dollar?

I doubt Canada has much to gain, and they're competent to manage their own currency. It might reduce costs of importing capital a little bit (make it cheaper for American investors).

But Mexico would be the only real beneficiary, as they no longer need to worry about a situation where the peso loses a lot of value. But they'd also lose control of monetary policy, which might be bad, assuming they're more competent than not at that.

But on the whole I'd say, why bother.

Answer 2

No. Currency defines a nation in many ways. I think that a switch to the same currency across the board would mark a clear line between the have and have-nots. The economy is also not ready for a more level playing field.

Canada and Mexico would be more inundated with Americanism. Our cultures and national identities would suffer more than they have already.

Answer 3

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Answer 4

No it would be to hard on the canadian economy. Furthermore, currency is a great tool of sovereignty for a nation. Except if we want to form a closer union, just like Europe did, it would be a bad idea.

Answer 5

Many businesses in the southwest are already accepting Pesos.

Answer 6

Hell no, I like going to Canada and getting things for cheaper..

Answer 7

Of course not.

Answer 8

Absolutely not.

Answer 9

That's my question, WHY?

Answer 10

No.