Re: Greenspan Says Gulf Inflation Will Fall If Dollar Peg Is Dropped
Regional currencies are not in and of themselves a bad idea. Anything that achieves better monetary stability so that people can plan their futures and use banking services with some confidence cannot be all bad. The only downside I can see is a loss of autonomy and the potential for having an unelected group control the ultimate disposition of the currency. But surely the Euro experience has shown that regional currency is anything but a disaster.
Regional currencies are not in and of themselves a bad idea. Anything that achieves better monetary stability so that people can plan their futures and use banking services with some confidence cannot be all bad. The only downside I can see is a loss of autonomy and the potential for having an unelected group control the ultimate disposition of the currency. But surely the Euro experience has shown that regional currency is anything but a disaster.
