Canada-United States Single Currency?

[Jennifat]

Would the US benefit from an economic merger with Canada?

Now with the Euro standing up as main competitor of the US Dollar, will a unified American-Canadian economy be able to stack up again next to the European Union?

Is a unified North American economy (sans Mexico) inevitable?

[eweezerinc]

Mexico doesn't necessarily see the kind of general wealth like America or Canada, so I don't think it would really do so well with a common currency as US or Canada. But I think that eventually US and Canada should have a single currency. It seems pretty inevitable. It wouldn't be for a long time though.

[spyguy]

A disadvantage would be that a single interest rate might not work for both countries because they may be out of sync.

[DarkFenX]

It will be cool. I mean if you go up to Canada, you can use the US dollars so I think that is possible and I hope that it will merge one day.

[Jennifat]

Originally Posted by DarkFenX

I mean if you go up to Canada, you can use the US dollars.

If there is an economic merger, the US Dollar will cease to exist. The currency would be known as the "Amero", like the Euro.

[SDfan]

I think they'd just call it "the dollar"

And I say bad idea.

[ROCguy]

An estimated 37% of Canadian citizens believe that Canada, at least parts of it. will be annexed to the US within the next 100 years. Oh yeah, and here in Upstate, NY, this already works. With coins at least. either is accepted, Canadain or American. Same in Toronto, and on the Canadian side of Niagara falls, and really, most of the "golden horseshoe"

[hudkina]

I would love it. The only problem is who's face would appear?

[gaviidae]

Originally Posted by hudkina

I would love it. The only problem is who's face would appear?

Who says we have to have images of people on our bank notes and coins?

[DarkFenX]

Originally Posted by hudkina

I would love it. The only problem is who's face would appear?

They can do both. USA's famous people and Canadian's. I mean in Euro, each country have a different coin but it is still part of the Euro and can be in use in any country who's currency is Euro. The US and Canada can do that too.

[xzmattzx]

one thing that should be taken into account is that the american dollar is basically the world's currency. it is used in large transactions between countries for various reasons. also, some countries use our money as their own currency. i believe panama is one country that does this. merging monetary systems would affect more than just canada and the us.

[samsonyuen]

I think it makes sense. Even now, the two economies are very interlinked. Canada's dollar is still quite affected by the US economy too, more than most others. The EU has nameless/faceless bills, which I wouldn't really like, maybe they could have John A. Macdonald and George Washington drinking with each other or something...

[hudkina]

Or Alanis Morrisette and Peter Jennings.

[Nouvellecosse]

Originally Posted by DarkFenX

It will be cool. I mean if you go up to Canada, you can use the US dollars so I think that is possible and I hope that it will merge one day.

Whaaa? Are you sure? I've never heard of that before. I mean, I've picked a good many US pennies out of my change, but I can't imagine anything bigger than a quarter being interchangeable.

[xzmattzx]

Originally Posted by DarkFenX

It will be cool. I mean if you go up to Canada, you can use the US dollars so I think that is possible and I hope that it will merge one day.

if you use american dollars in a store in canada, you get a bad exchange rate. it's better to just use canadian dollars.

[SChristopher]

How neccesary would this be? Why sans Mexico? :p

[Jennifat]

^Because Mexico is still a developing country and doesn't have the proper industrialization to integrate with the rest of North America.

The same problem is affecting the European Union; many Western European countries resist recruiting new countries in the East because they are economically inferior and throw off the economic balance, distributing profits unfairly.

[SChristopher]

I was thinking along the same lines (I think) it would be good for Mexico, yet weak for us having a dead horse strapped to our back so to speak.

I dont know too much about currency, how does the Canadian dollar compare to US ones?

[Steeltown]

Convert one lonnie, which is $1 CAN, will give you $0.83 American.

[Architorture]

we will never allow the QUEEN to be on our money...so no deal!