| Euro will overtake dollar as world currency in five years? | |
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| Dec 29, 2008 01:00 |   |
 | A European poll says that many European people believe that Euro will pass dollar in next five years as world currency. Due to its continuous appreciation, Euro is closely to parity with pound, the most valuable currency in the world. Do you think it will come true? |
| Dec 30, 2008 06:08 | #1 |
| There was a poll in US about that too. 48% of polled people thought it is possible. However, polls are polls and if want certain answer just put the question right. USA and $ have long roots. USE (EU) and € are young despite all EEC and EFTA things in past. I think five years is a very short term and to change the world currency smoothly takes at least that time. If the world economy goes like it has been going the last 10 years I would not be surprized if some poll would 2015 say RMB will be the world currency within five years. Anyway, as European I think it would be good to put $ behind. Carlos |
| Dec 30, 2008 07:58 | #2 |
| The fact that there is currently near parity between the US dollar and the Euro is surely irrelvant. The US$ must surely cease to be the major world currency as it has been exposed as being as strong as a soap bubble in thw wind, though it will take some time for others to unload the increasing worthless greenback: wothless because the US is so severely in debt to the world and nations and investors have finally woken up to the fact that the US economy no longer has the power to pay its debts. The RMB is more likely to be the next world currency as China will definitely be the number one economy VERY soon. |
| Dec 31, 2008 20:38 | #3 |
| It seems that guys/gals here are most from UK. To be fair and objective, I would say in 5 years it's a fantacy to hope that British Sterling to replace US dollar as world currency before majority international trade and reserves shift from USD to Euro or British Sterling. While London as global financial center and multicultrual open society could be a strong competitor to NY. Market and consummers' confidence is the psychological key to walking out of the shawdow of recession or depression- heard US is beginning slipping into depression. Happy new year and wish you all the best in 2009! |
| Jan 5, 2009 11:27 | #4 |
| There is surely no way that the pound can ever be a world currency. The Uk does not have a particularly strong economy, and it has marginalised itself even further by not adopting the Euro. I stand by what I suggested before, maybe the Euro could become a lead currency but the countries involved have a few issues to resolve first. China and the RMB will dominate unless its leaders stuff up...and I don't see that happening. |
| Jun 4, 2009 08:44 | #5 |
| GUEST17666 | The Chinese currency will not be the next World currency for sure. It is simply not a world currency in development. It is forbidden to have the Chinese rmb outside China. You cannot pay with it somewhere in other countries, at least not on a wide scale. Who knows its value really, without checking the charts? So it is clearly not happening, maybe it is different in 20-30 yrs, but nobody can forsee that now. The Euro is different: you can pay with it already outside the Euro-zone. If you have no local currency in your pocket, but you have Euro's instead, it will probably be accepted in many countries in the world. It is not a moment of take over or something like that, it is already happening for at least about 5 years or so. An example: The formula 1 budget fight with FIA and the teams is still going on: should it be 45 million Euro's per team or 100 million? Never mind the question, but you can see the currency is in Euro's, it always was in Dollars in the past. As you can see things change by themselves as an ongoing process over many years. it is not a matter to appoint a new world currency. |
| Sep 25, 2010 08:43 | #6 |
| GUESTYASIR G... | In the last few months, a few papers and articles have tried to prove that the euro will overtake the dollar rather soon. They look at the historical evidence of how the dollar slowly overtook the pound, between 1897 and 1945, find that the same may happen again between the euro and the dollar now, concluding that the first may overtake the second within the next two decades. According to them, the decline of the pound was part of a larger pattern whereby the UK lost its economic pre-eminence: colonies, military power and other trappings of international economy. And now they see the same happening to the US, which might now have embarked as well on a path of imperial over-reach, following the one experienced by the UK. On the one side, |
| Sep 25, 2010 22:16 | #7 |
| This proves just how impossible attempting to predict the future can be. |
| Oct 13, 2010 11:28 | #8 |
| Yea, I think it was Nils Boehr who said that prediction is difficult, especially about the future. He was some kind of scientist but still his words are so true. "but" for a scientist saying something philosophic. Anyway, I still stand behind my statement that in the future the RMB will be the real world currency. Carlos |
| Oct 13, 2010 14:08 | #9 |
| Quote:Originally Posted by CARLOS Anyway, I still stand behind my statement that in the future the RMB will be the real world currency. Carlos How can that possibly ever happen? The RMB is not a floating currency. It's pegged to the $U.S. and therefore can never be a defacto world currency. I doubt that will change anytime soon. I will happily take you up on that prediction Carlos. Care to lay a small bet? |
| Oct 13, 2010 18:46 | #10 |
| Bebert, if timeframe is not given, bets won't count. According to the trend, what Carlos says is no nonsense, i.e. we can see that in our life most probably. And RMB has already become a dominant trade currency in South East Asia. |
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