WA Reserve Currency Debate

Page 1 of 2 1, 2  Next

View previous topic View next topic Go down

WA Reserve Currency Debate

Post  Great Eurussia on Thu Jan 15, 2015 11:44 pm

The Eurussian Government suggests to our friends and partners here in the Security Council and around the world to finally and formally discuss and debate the possibility of adopting an international reserve currency.
As such, our citizens have faced a very hard time and processes on exchanging each others' currencies based on our trade performances and different approaches due to a lack of internationally standardized form of global currency exchange. This concern also affects the trade and business opportunities of our companies to be able to compete in the growingly competitive international market. Thus, we suggest to adopt a mechanism.
We wish to hear your views.


Last edited by Great Eurussia on Wed Mar 11, 2015 10:04 am; edited 2 times in total
avatar
Great Eurussia
Superpower

Posts : 5336
Join date : 2013-02-04

http://www.nationstates.net/nation=great_eurussia

Back to top Go down

Re: WA Reserve Currency Debate

Post  Apepistan on Fri Jan 16, 2015 12:05 am

I'm against the idea of the nations adopting this instead of their own currency.

However, having an international currency as an exchange tool sounds interesting, but what would set the value of it?
avatar
Apepistan
Regional Power

Posts : 439
Join date : 2014-09-27
Location : Budapest, Hungary

Back to top Go down

Re: WA Reserve Currency Debate

Post  England and Wales on Fri Jan 16, 2015 12:21 am

I know im not part of the council but I would use it as my nation has no official currency and we only use it for trade so im game
avatar
England and Wales
Powerbroker

Posts : 287
Join date : 2014-11-02

Back to top Go down

Re: WA Reserve Currency Debate

Post  UnitedStatesOfScouting on Fri Jan 16, 2015 12:23 am

Scouting is against any kind of international currency.
avatar
UnitedStatesOfScouting
Emerging Power

Posts : 970
Join date : 2014-11-03

https://www.nationstates.net/nation=scouting

Back to top Go down

Re: WA Reserve Currency Debate

Post  New Rhodinia on Fri Jan 16, 2015 1:20 am

As much as we'd be interested in seeing an international currency, we still believe that the Denarius has served New Rhodinia well. In addition, a singular currency throughout all nations in the World Alliance would demand more then what it suggests; some nations may have to downgrade their economy and others may have to pull extra strings just to fit the international standard.

Individual currencies haven't caused us trouble as far as we can tell, so we are against this.
avatar
New Rhodinia
Emerging Regional Power

Posts : 324
Join date : 2014-09-22

Back to top Go down

Re: WA Reserve Currency Debate

Post  Xolox on Fri Jan 16, 2015 1:50 am

New Rhodinia wrote:As much as we'd be interested in seeing an international currency, we still believe that the Denarius has served New Rhodinia well. In addition, a singular currency throughout all nations in the World Alliance would demand more then what it suggests; some nations may have to downgrade their economy and others may have to pull extra strings just to fit the international standard.

Individual currencies haven't caused us trouble as far as we can tell, so we are against this.

My thoughts exactly.
avatar
Xolox
Regional Power

Posts : 470
Join date : 2014-09-04
Age : 19
Location : Florida

http://www.nationstates.net/nation=xolox

Back to top Go down

Re: WA Reserve Currency Debate

Post  Serenarea on Fri Jan 16, 2015 7:08 am

We are open to the idea of an international reserve currency depending on what currency the international community would use. If we adopt a individual nation's currency as the reserve currency (i.e. United States) it would give them too much power over the international market and that should be avoided. A currency created by the SC, however, like the Euro, controlled by us, could bring up many possibilities along with the risks.


Last edited by Serenarea on Fri Jan 16, 2015 1:50 pm; edited 1 time in total
avatar
Serenarea
Powerbroker

Posts : 179
Join date : 2014-09-03

Back to top Go down

Re: WA Reserve Currency Debate

Post  Muchos Estados Unidos on Fri Jan 16, 2015 10:17 am

I am in favor of this because it will make economies stronger and transactions faster. Let us make the United States Dollar the world currency of reserves. This is our currency.
avatar
Muchos Estados Unidos
Emerging Regional Power

Posts : 391
Join date : 2014-09-04

Back to top Go down

Re: WA Reserve Currency Debate

Post  Muchos Estados Unidos on Fri Jan 16, 2015 10:21 am

I also don't think this is something to do about changing our national currencies. That is why this is called internationa "RESERVE CURRENCY"
avatar
Muchos Estados Unidos
Emerging Regional Power

Posts : 391
Join date : 2014-09-04

Back to top Go down

Re: WA Reserve Currency Debate

Post  Serenarea on Fri Jan 16, 2015 1:54 pm

Muchos Estados Unidos wrote:I am in favor of this because it will make economies stronger and transactions faster. Let us make the United States Dollar the world currency of reserves. This is our currency.

I disagree, if there is to be a reserve currency, it should not be an individual nations currency.
avatar
Serenarea
Powerbroker

Posts : 179
Join date : 2014-09-03

Back to top Go down

Re: WA Reserve Currency Debate

Post  Snarfian Federation on Fri Jan 16, 2015 9:59 pm

Snarfia maintains their own currency.
avatar
Snarfian Federation
Regional Power

Posts : 413
Join date : 2013-07-21
Location : Somewhere in a galaxy far far away...

Back to top Go down

Re: WA Reserve Currency Debate

Post  Great Eurussia on Sat Jan 17, 2015 11:33 pm

Eurussia believes that if a country, using its national currency during times of economic stability and prosperity, buys a strong foreign currency, such acquisition will become its international reserve currency. And when the time comes that that country's economy is in trouble or in collapse, instead of asking for foreign loans from other nations, it could simply use its international reserves (internationap reserve currency) to fund its government programs avoiding high interest emergency loans from foreign governments.
avatar
Great Eurussia
Superpower

Posts : 5336
Join date : 2013-02-04

http://www.nationstates.net/nation=great_eurussia

Back to top Go down

Re: WA Reserve Currency Debate

Post  New Rhodinia on Sun Jan 18, 2015 12:27 am

Great Eurussia wrote:
Eurussia believes that if a country, using its national currency during times of economic stability and prosperity, buys a strong foreign currency, such acquisition will become its international reserve currency. And when the time comes that that country's economy is in trouble or in collapse, instead of asking for foreign loans from other nations, it could simply use its international reserves (internationap reserve currency) to fund its government programs avoiding high interest emergency loans from foreign governments.

That is implying that nations only have the one option to take out foreign loans once an economy is slumping. We've proven before that we can improve our economy on our own and without the need of a reserve currency. In addition, what's the game plan for when nations start to rely on the international reserves too much? Wouldn't other nations see this as a form of economic abuse?
avatar
New Rhodinia
Emerging Regional Power

Posts : 324
Join date : 2014-09-22

Back to top Go down

Re: WA Reserve Currency Debate

Post  UnitedStatesOfScouting on Sun Jan 18, 2015 12:55 am

Should this pass, the United States of Scouting will NOT involve itself in this matter.
avatar
UnitedStatesOfScouting
Emerging Power

Posts : 970
Join date : 2014-11-03

https://www.nationstates.net/nation=scouting

Back to top Go down

Re: WA Reserve Currency Debate

Post  Muchos Estados Unidos on Sun Jan 18, 2015 1:46 am

MEU pushes for US Dollar to become international reserve currency.
avatar
Muchos Estados Unidos
Emerging Regional Power

Posts : 391
Join date : 2014-09-04

Back to top Go down

Re: WA Reserve Currency Debate

Post  Great Eurussia on Sun Jan 18, 2015 8:40 am

New Rhodinia wrote:
Great Eurussia wrote:
Eurussia believes that if a country, using its national currency during times of economic stability and prosperity, buys a strong foreign currency, such acquisition will become its international reserve currency. And when the time comes that that country's economy is in trouble or in collapse, instead of asking for foreign loans from other nations, it could simply use its international reserves (internationap reserve currency) to fund its government programs avoiding high interest emergency loans from foreign governments.

That is implying that nations only have the one option to take out foreign loans once an economy is slumping. We've proven before that we can improve our economy on our own and without the need of a reserve currency. In addition, what's the game plan for when nations start to rely on the international reserves too much? Wouldn't other nations see this as a form of economic abuse?


May we know how could having international foreign currency reserves become an economic abuse?
avatar
Great Eurussia
Superpower

Posts : 5336
Join date : 2013-02-04

http://www.nationstates.net/nation=great_eurussia

Back to top Go down

Re: WA Reserve Currency Debate

Post  New Rhodinia on Sun Jan 18, 2015 9:29 am

Great Eurussia wrote:
New Rhodinia wrote:
Great Eurussia wrote:
Eurussia believes that if a country, using its national currency during times of economic stability and prosperity, buys a strong foreign currency, such acquisition will become its international reserve currency. And when the time comes that that country's economy is in trouble or in collapse, instead of asking for foreign loans from other nations, it could simply use its international reserves (internationap reserve currency) to fund its government programs avoiding high interest emergency loans from foreign governments.

That is implying that nations only have the one option to take out foreign loans once an economy is slumping. We've proven before that we can improve our economy on our own and without the need of a reserve currency. In addition, what's the game plan for when nations start to rely on the international reserves too much? Wouldn't other nations see this as a form of economic abuse?


May we know how could having international foreign currency reserves become an economic abuse?

A nation ignores its own currency and economy overall and instead relies only on the reserves. Essentially, they would rely on other nations to pay for their expenses.
avatar
New Rhodinia
Emerging Regional Power

Posts : 324
Join date : 2014-09-22

Back to top Go down

Re: WA Reserve Currency Debate

Post  Great Eurussia on Tue Jan 20, 2015 12:07 am

New Rhodinia wrote:
Great Eurussia wrote:
New Rhodinia wrote:
Great Eurussia wrote:
Eurussia believes that if a country, using its national currency during times of economic stability and prosperity, buys a strong foreign currency, such acquisition will become its international reserve currency. And when the time comes that that country's economy is in trouble or in collapse, instead of asking for foreign loans from other nations, it could simply use its international reserves (internationap reserve currency) to fund its government programs avoiding high interest emergency loans from foreign governments.

That is implying that nations only have the one option to take out foreign loans once an economy is slumping. We've proven before that we can improve our economy on our own and without the need of a reserve currency. In addition, what's the game plan for when nations start to rely on the international reserves too much? Wouldn't other nations see this as a form of economic abuse?


May we know how could having international foreign currency reserves become an economic abuse?

A nation ignores its own currency and economy overall and instead relies only on the reserves. Essentially, they would rely on other nations to pay for their expenses.



Will you not be forced to ignore your own national currency if your collapsed economy caused your own national currency to lose its value within your own jurisdiction? 

And since your country has made its best during times of prosperity to BUY the highly valued and stable international RESERVE currency, will you not use your OWN international reserves to pay for your expenses to revive your own economy and your own national currency?

Or would you simply advice countries not to rely too much on international reserve currency and when you do not have it and your own economy collapses together with your own national currency, would you simply advice them to take foreign loans to revive your own economy and later pay back all those loans with sky rocket interests?
avatar
Great Eurussia
Superpower

Posts : 5336
Join date : 2013-02-04

http://www.nationstates.net/nation=great_eurussia

Back to top Go down

Re: WA Reserve Currency Debate

Post  Snarfian Federation on Tue Jan 20, 2015 4:45 am

If this passes i recommend to name it the Woala a combination of World Alliance and Koala before we call it after the Chinese yuan or the MEU's dollar
avatar
Snarfian Federation
Regional Power

Posts : 413
Join date : 2013-07-21
Location : Somewhere in a galaxy far far away...

Back to top Go down

Re: WA Reserve Currency Debate

Post  Great Eurussia on Wed Jan 21, 2015 9:56 am

Snarfia wrote:If this passes i recommend to name it the Woala a combination of World Alliance and Koala before we call it after the Chinese yuan or the MEU's dollar
 

Where would its value be based?
avatar
Great Eurussia
Superpower

Posts : 5336
Join date : 2013-02-04

http://www.nationstates.net/nation=great_eurussia

Back to top Go down

Re: WA Reserve Currency Debate

Post  Muchos Estados Unidos on Wed Jan 21, 2015 2:39 pm

Great Eurussia wrote:
Snarfia wrote:If this passes i recommend to name it the Woala a combination of World Alliance and Koala before we call it after the Chinese yuan or the MEU's dollar
 

Where would its value be based?


Since your country is the most powerful in this region, I suggest instead to have your currency as an international reserve currency. The US Dollar will be buying your Euros because of your strong economy and make it as our international reserve.
avatar
Muchos Estados Unidos
Emerging Regional Power

Posts : 391
Join date : 2014-09-04

Back to top Go down

Re: WA Reserve Currency Debate

Post  Apepistan on Wed Jan 21, 2015 6:57 pm

Muchos Estados Unidos wrote:
Great Eurussia wrote:
Snarfia wrote:If this passes i recommend to name it the Woala a combination of World Alliance and Koala before we call it after the Chinese yuan or the MEU's dollar
 

Where would its value be based?


Since your country is the most powerful in this region, I suggest instead to have your currency as an international reserve currency. The US Dollar will be buying your Euros because of your strong economy and make it as our international reserve.


I'm honestly starting to question the MEU's international politics ever since the commonwealth with Eurussia.

If we choose an already existing national currency for this, it's basically aiding the possible hegemony of that nation.
If we choose a new currency, it has no value because there is no economy on which its value could be based on.
avatar
Apepistan
Regional Power

Posts : 439
Join date : 2014-09-27
Location : Budapest, Hungary

Back to top Go down

Re: WA Reserve Currency Debate

Post  Great Eurussia on Wed Jan 21, 2015 7:40 pm

Muchos Estados Unidos wrote:
Great Eurussia wrote:
Snarfia wrote:If this passes i recommend to name it the Woala a combination of World Alliance and Koala before we call it after the Chinese yuan or the MEU's dollar
 

Where would its value be based?


Since your country is the most powerful in this region, I suggest instead to have your currency as an international reserve currency. The US Dollar will be buying your Euros because of your strong economy and make it as our international reserve.


Eurussia leaves that decision to the Security Council.
avatar
Great Eurussia
Superpower

Posts : 5336
Join date : 2013-02-04

http://www.nationstates.net/nation=great_eurussia

Back to top Go down

Re: WA Reserve Currency Debate

Post  Great Eurussia on Wed Jan 21, 2015 7:46 pm

Apepistan wrote:

If we choose an already existing national currency for this, it's basically aiding the possible hegemony of that nation.
If we choose a new currency, it has no value because there is no economy on which its value could be based on.


On the first thing, Eurussia believes that the possibility of hegemony remains a political question and in the first place is not the focus of our discussions, but the global economy alone.

On the second thing, indeed. We may opt to name a new currency and a new global bank to manage the new international reserve currency but we also have to choose an economy on which the new currency will be 'pegged' upon or based upon. A complicated process and as well as financially exhausting to establish but worth it if we wish to.

Or we could simply designate a currency to become an international reserve currency. But this will be less work and less complicated but the same objectives as with the above. In achieving this, we could vote on the best performing currencies in the world.

One way or another, to represent the real life, we need to have an international reserve currency to add another dimension to our roleplaying, which is trade and economy.
avatar
Great Eurussia
Superpower

Posts : 5336
Join date : 2013-02-04

http://www.nationstates.net/nation=great_eurussia

Back to top Go down

Re: WA Reserve Currency Debate

Post  Snarfian Federation on Thu Jan 22, 2015 3:02 am

Whe should maintain our own currency but accept the reserve currency as a second payment thing which people from other country's can use to pay in you country without having to switch to the foreign currency.
avatar
Snarfian Federation
Regional Power

Posts : 413
Join date : 2013-07-21
Location : Somewhere in a galaxy far far away...

Back to top Go down

Re: WA Reserve Currency Debate

Post  Sponsored content


Sponsored content


Back to top Go down

Page 1 of 2 1, 2  Next

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum