What would happen to the world's economy if the mighty dollar was superseded definitely by the Euro?
Could that happen?
How would we be here in the US of A in that case?
2007-12-15 07:09:18 · 4 answers · asked by Anonymous in Social Science ➔ Economics
If OPEC countries start denominating their oil in euros rather than dollars that will be the beginning of the end for the dollar's hegemony.
2007-12-15 09:05:46 · answer #1 · answered by Hubris252 7 · 0⤊ 1⤋
The Euro has a long way to go to domineer the British Pound, so therefore I can not see it becoming the dominant currency in the world.
Globally, Sterling is seen as the currency to be compared with and that also goes for the Euro & US Dollar.
2007-12-15 07:18:49 · answer #2 · answered by steve 7 · 0⤊ 0⤋
It depends what you mean by superdeded. The Euro has a stronger value as we speak.
But it is actually good for the growth of the country if your dollar goes down. It means that other countries will want to buy your products because they are now cheaper to them. More demand for your products = more production for your country and thus your economy will grow.
On the other side of the coin imports will fall because other country prices are higher and you will therefore end up buying domestic products, stimulating your economy further.
So it actually has a positive effect on your economy.
2007-12-15 07:22:24 · answer #3 · answered by steve08080808 2 · 1⤊ 0⤋
You wouldn't notice a difference until you traveled. Wanna find out? Go try and buy something in the UK right now.
2007-12-15 07:16:29 · answer #4 · answered by Scott Evil 6 · 1⤊ 0⤋