An entire new currency is in the process of coming into the global economy. It is the North American style of the "Euro" and is named the "Amero". It's going to replace the currency that all countries are so familiar with and refer to - the Dollar. What's known about this currency is that it will join Mexico, North America and Canada together in a boarderless currency zone much like the Euro. This thread has been created to discuss the possible affects this will have on EVERYONE including business and the wider economy. Talk about anything from the name "Amero" to the possible negatives and positives. There's been wide spread success with the Euro so far, if not a bit limited so will the same happen with the Amero?
The Amero will probably never happen. It doesn't really make any sense. It might make sense for Canada and the USA to merge currencies since they are unfortunately about equal right now. The Peso and the Mexican economy in general is way to unstable right now to be pulled into a strong currency. There is also no practical reason for the shift. The Euro at least had some appeal. Not having a common currency in Europe was effectively the same as each state in the US having its own currency. How many people are really going to travel to Canada or Mexico on day trips though. Only people on the border who will already have some exchanged. I also figure that there won't be much concern for currency exchanges as the advent of internet banking is lowering the cost of transactions anyways. Just my two cents.
If the Amero comes into the economy then it won't be long until there will be a globalised currency turning the world into 1 giant super economy! But that's in about 500 years time. Avarian has a point. There is no need to have an Amero right now. Firstly the name is just terrible and for all the reasons that Avarian pointed out. The only real benefit I can see is reduced transaction costs and less hassle to exchange.
Where do you people come up with this crap? There is no such thing, there are no discussions about such a thing and there is no way that all three governments would agree to it. This isn't Europe where countries were willing to give up their economic and political independence so that they could be ruled over by a bunch of unelected technocrats.
It's real. Research it. I also think that the Amero is a rediculous idea but it is definately being taken seriously by members of government in North America. http://youtube.com/watch?v=6hiPrsc9g98 http://youtube.com/watch?v=SkfzRR1Zzj8
More about AMERO here http://en.wikipedia.org/wiki/Amero ...but "amero" sounds more italian then as an english term... Imagine that, this week I got 500 amero from affiliate marketing... so funny
I have to FULLY agree with you here. I like the idea of uniting N.America, Canada and Mexico in 1 boarderless currency market but the name... oh god the name! Who the hell thought of that? It just sounds like a cheap columbian rip off of the Euro or something. The world would be a much different place with the word "dollar" being removed from our dictionary. Assuming that australlia etc will change to the "Austraillian Amero"
This is just completly stupid. There might be an agreement with Canada and Mexico, but the US isnt going to get rid of the dollar.
If they did want to get a unified currency for Mexico, Canada and North America then they wouldn't be able to keep the dollar. If it was Mexico's idea to make the currency do you really think that Americans and Canadians would have a unified "peso". If it does happen then the dollar will be a scrapped and an entire newly named currency would be made.