A Quote by Igor Luksic
I think that the tying of the Montenegrin economy with the euro is a much better option than the adventure of printing our own currency.
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For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.
I think it's often discussed that leaving the Euro is an option for Greece. I think this is really not an option.
America really started to die when the Federal Reserve was founded, and it really started to die in 1971 when the gold backing was taken away from the dollar, and this currency with Ben Bernanke just printing up or counterfeiting as much money as he wants and destroying the economy is really destroying the economy.
A single currency entails a fixed interest rate, which means countries can't manage their own currency to suit their own needs. You need a variety of institutions to help nations for which the policies aren't well suited. Europe introduced the euro without providing those structures.
I place the blame with our own leaders who are not defending our interests. A strong euro is ruining our economy.
American products are better than the Chinese. We do a better job. We make better products. But because the currency is so low versus the dollar versus other things, and so much lower than it should be, it's very hard to compete for our companies.
A national currency, with the Euro as a common currency - that wouldn't bother me.
The greatest threat facing America today
is the disastrous fiscal policies of our own government,
marked by shameless deficit spending and
Federal Reserve currency devaluation.
It is this one-two punch -
Congress spending more than it can tax or borrow,
and the Fed printing money to make up the difference -
that threatens to impoverish us by further
destroying the value of our dollars.
Thanks to the euro, our pockets will soon hold solid evidence of a European identity. We need to build on this, and make the euro more than a currency and Europe more than a territory... In the next six months, we will talk a lot about political union, and rightly so. Political union is inseparable from economic union. Stronger growth and Euorpean integration are related issues. In both areas we will take concrete steps forward.
It's in our interests that the euro is a successful, strong currency.
I'm not trying to be diplomatic. I'm trying to be more nuanced and realistic. I think there has to be a serious examination of the shortcomings of the Euro structure. Euro central institutions, whether it be fiscal policy, monetary policy, financial regulation, are simply not as robust as they are in a currency that has a national government behind it.
I think we as Americans know there's a much better alternative than the 17th century practice of burning rocks to power our economy.
Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one.
Yes, I think India's economy always has been a mixed economy, and by Western standards we are much more of a market economy than a public sector-driven economy.
Ambition means tying your well-being to what other people say or do. Self-indulgence means tying it to the things that happen to you. Sanity means tying it to your own actions.
Concerning the common currency: today, the euro is not worth it for Poland. The reason why we survived the financial and economic crisis quite well is that we have a national currency. This will not change in the near future.
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