I've been pondering the Euro lately. The whole point of having the Euro was to get rid of the cost of managing multiple currencies. The cost of switching over and maintaining one big currency was smaller. But today it's very obvious that the cost of a big currency zone is higher than had been calculated.
What if cryptocurrencies solve the problem of multiple currency management and reduce the costs of managing multiple currencies enough that staying or leaving the euro zone is a cost neutral one. What if the cost of managing multiple currencies ends up actually smaller than the costs of maintaining an undifferentiated large currency zone? All the big currencies would come under pressure to reduce costs and increase efficiency by creating multiple smaller currency zones. The Euro has the least history and the most unresolved problems to it so it is likely to be pressurized especially hard.
Clearly we haven't hit this point yet but it's not too early to start getting together the prerequisite data and the process for calculating when it's worthwhile to change the currency game. I wonder if anybody's doing it yet.
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