has the euro been a net positive or negative? \ stacker news ~econ

has the euro been a net positive or negative?

1378 sats \ 17 comments \ @stack_harder 23 Sep econ

ok, so i am in bulgaria at the moment and there's a lot of talk about them eventually getting the euro.

up until now, i have always lived in countries with their own currencies and when i read about euro adoption in other places, all i see is how people say things got more expensive over night. rarely do i read anything particularly positive and all i can imagine is when the euro hits here, mine and my family quality of life will just go down AGAIN.

but I'm sure it's great for lidl or eu importers, although i cant say i give much of a fuck about them and the local currency is pegged to the euro anyway.

so tell me, am i wrong, will the euro have some unexpected upsides for me, a regular person, or should i start stockpiling the lube now?

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57 sats \ 2 replies \ @fm 23 Sep

Oh, prepare yourself to a quick devaluation of your purchase power.. We all saw that when adopting the euro cuckbuck. If not instantly just wait a year or two..

Just like south america dollarization, once your country adopts the euro, your inflation is tied to the biggest economies of the eurozone. They knew this before implementing euro.. but they went ahead anyway

22 sats \ 1 reply \ @stack_harder OP 23 Sep

verdict seems to be getting shafted by Germany. I'll keep stacking, but it makes me mad that the euro is even a thing, life got expensive enough during and after covid, just getting slowly ground into the floor

42 sats \ 0 replies \ @fm 23 Sep

Well, Germany is now passing a hard time, but doesn’t matter since if not germany is france setting the pace. Either way, the euro south will always suffer more to reach the north velocity meaning you suffer somewhat of an added inflation..

All this is relative.. in zimbabue or argentina adopting a foreigner coin is better than their own.. Just like chemotherapy is good if you are about to die..

10 sats \ 3 replies \ @TheBTCManual 23 Sep

It really depends on a lot of factors, like I dont know jack about Bulgaria or the currency like if they're a net importer or exporter,

if you're exporting and artificially devaluing it to keep your labour and production cost cheaper to drive investment, well that shit goes away and prices for everything adjust, it won't be what the government say we going to convert at x rate, so you have to find other ways to be competitive

I guess you could look at Croatia, they moved over to the Euro in 2023, hows it been working out for them?

32 sats \ 1 reply \ @a40ecaacec 20h

I have experienced firsthand that the croatian politicians (morons) made a poor decision by switching to the euro, right after the covid pandemic when inflation started to rise. What’s more, prices here are double or even higher compared to countries like Italy, France, and Germany. But I just stack, work to increase my earnings every year and feel bad for the normies.

100 sats \ 0 replies \ @stack_harder OP 20h

yup, looks like we will have to just get rektd. not looking forward to it, but without bitcoin life would be far grimmer

0 sats \ 0 replies \ @stack_harder OP 23 Sep

apparently, everything got more expensive with the shops and things using it as an excuse to sneak up prices

https://www.reddit.com/r/croatia/comments/15j9nin/does_life_feel_bettercheaper_in_croatia_after_you/

how a currency like this can be shoved on people is beyond me, it should be a national vote

32 sats \ 0 replies \ @justin_shocknet 23 Sep

Positive or negative, for who?

It's been extremely positive for globalists that needed to keep the music going for their fiat system, at the expense of state sovereignty which they find a nuisance anyway.

Imagine if Italy and other countries had dollarized 20+ years ago? It'd have been a total disaster for the old money european banks. The can's been kicked and now to keep the ponzi going it needs to expand territory.

32 sats \ 0 replies \ @Bee_Aye 23 Sep

stay cashflow positive and save in btc...all any of us can do good luck friend 🤙

1 sat \ 1 reply \ @kilianbuhn 23 Sep

"What if" scenarios for history are almost impossible to tell because you cannot account for the domino effects

0 sats \ 0 replies \ @kilianbuhn 23 Sep

A butterfly flapping its wing could have caused a tornado on the other end of the world

Not introducing the Euro could have created flourishing economics in southern europe causing everyone to be better off. Not introducing the euro could have led to more protectionism, less free trade and everyone would have been worse off

Nobody knows. It's impossible to know.

0 sats \ 0 replies \ @wingalt 23 Sep

While convenient for travelling and transacting in Euro, the adoption of the Euro has marked a great consolidation of power for the Brussels bureaucrats and a silent currency devaluation hurting everybody's purchasing power.

0 sats \ 1 reply \ @Coinsreporter 23 Sep

Be ready to fall a prey of the biggest European scam! Although, I'm not very hopeful of EU future. Like everything else, this won't work for long.

0 sats \ 0 replies \ @stack_harder OP 23 Sep

i dunno man, these things tend to go on for decades of slow decay, like the slow death march of Argentina