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In our view: Regional currency Joplin Globe | October 24, 2007 As the dollar continues to slide against the euro, Americans may see a push to create the amero, a regional currency that would replace the U.S. dollar, Canadian dollar and Mexican peso. For supporters, it would be the logical evolution to a North American trade union that ultimately might include other Central American countries and perhaps even extend across South America. What makes the amero a popular concept, at least outside the United States, is that abandoning national currencies in favor of a regional unit would be a necessary first step toward a one-world currency. Of course, the amero isn’t a done deal. The United States clearly is the big guy on the block of the North American economy. It would be the dominant player in any union. Indeed, our economy is enormous compared to any other in the world.
Then, there are the cultural and social differences to consider. Americans are an individualistic lot, too, and are unlikely to accept such a currency being crammed down their throats. Furthermore, what advantages could an amero offer over the dollar, which already is a global currency competing with the euro and yen? The euro was the first of the super-regional currencies. But it doesn’t necessarily follow that North America must form a similar political union to fashion a regional currency and set economic and perhaps political agendas, such as immigration. The amero has a ring to it. Hollow, that is. Americans will take a lot of convincing that dropping the dollar for a blend of U.S. and Canadian dollars and Mexican pesos, accompanied by all of the political ramifications that promises, is in their best interests. We doubt that it can be done. CLICK ON THE BANNER TO
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