Sri Lanka moots single currency for SAARC
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[EDIT] I'm particularly interested in knowing what our European friends have to say about this :) [/EDIT] http://economictimes.indiatimes.com/articleshow/1850558.cms[^] 1. Do you think it will be good for SAARC as a whole? 2. For SAARC citizens: would you welcome this from your viewpoint as an Indian/Sri Lankan/Pakistani/whatever? I'm somewhat skeptical of this, even if you leave the politics aside. Inter-member trade within SAARC is not as high as it is within the EU, and neither is cross-border movement of law-abiding citizens. Which kinda defeats the purpose of a single currency if you ask me....
Cheers, Vikram.
The cold will freeze our stares We won't care...
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[EDIT] I'm particularly interested in knowing what our European friends have to say about this :) [/EDIT] http://economictimes.indiatimes.com/articleshow/1850558.cms[^] 1. Do you think it will be good for SAARC as a whole? 2. For SAARC citizens: would you welcome this from your viewpoint as an Indian/Sri Lankan/Pakistani/whatever? I'm somewhat skeptical of this, even if you leave the politics aside. Inter-member trade within SAARC is not as high as it is within the EU, and neither is cross-border movement of law-abiding citizens. Which kinda defeats the purpose of a single currency if you ask me....
Cheers, Vikram.
The cold will freeze our stares We won't care...
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Exactly which regional countries are part of SAARC?
-- CleaKO The sad part about this instance is that none of the users ever said anything [about the problem]. Pete O`Hanlon Doesn't that just tell you everything you need to know about users?
Google should help you out... but since you're the only one who bothered to answer, I'll be nice to you. ;) India, PK, SL, Nepal, Bhutan, Bangladesh, Maldives, and most recently, Afghanistan.
Cheers, Vikram.
The cold will freeze our stares We won't care...
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[EDIT] I'm particularly interested in knowing what our European friends have to say about this :) [/EDIT] http://economictimes.indiatimes.com/articleshow/1850558.cms[^] 1. Do you think it will be good for SAARC as a whole? 2. For SAARC citizens: would you welcome this from your viewpoint as an Indian/Sri Lankan/Pakistani/whatever? I'm somewhat skeptical of this, even if you leave the politics aside. Inter-member trade within SAARC is not as high as it is within the EU, and neither is cross-border movement of law-abiding citizens. Which kinda defeats the purpose of a single currency if you ask me....
Cheers, Vikram.
The cold will freeze our stares We won't care...
I'm not European, so please forgive me for answering. 1. Do you think it will be good for SAARC as a whole? Yes, very much so.
Vikram A Punathambekar wrote:
Inter-member trade within SAARC is not as high as it is within the EU, and neither is cross-border movement of law-abiding citizens. Which kinda defeats the purpose of a single currency if you ask me....
You're putting the cart before the horse. The purpose of the single currency is to increase inter-member trade by removing barriers such as exchange rates and conversion costs.
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I'm not European, so please forgive me for answering. 1. Do you think it will be good for SAARC as a whole? Yes, very much so.
Vikram A Punathambekar wrote:
Inter-member trade within SAARC is not as high as it is within the EU, and neither is cross-border movement of law-abiding citizens. Which kinda defeats the purpose of a single currency if you ask me....
You're putting the cart before the horse. The purpose of the single currency is to increase inter-member trade by removing barriers such as exchange rates and conversion costs.
Ed Gadziemski wrote:
please forgive me for answering
:laugh:
Ed Gadziemski wrote:
The purpose of the single currency is to increase inter-member trade by removing barriers such as exchange rates and conversion costs.
Good point. After all, population-wise, SAARC is easily the most populous regional bloc.
Cheers, Vikram.
The cold will freeze our stares We won't care...
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[EDIT] I'm particularly interested in knowing what our European friends have to say about this :) [/EDIT] http://economictimes.indiatimes.com/articleshow/1850558.cms[^] 1. Do you think it will be good for SAARC as a whole? 2. For SAARC citizens: would you welcome this from your viewpoint as an Indian/Sri Lankan/Pakistani/whatever? I'm somewhat skeptical of this, even if you leave the politics aside. Inter-member trade within SAARC is not as high as it is within the EU, and neither is cross-border movement of law-abiding citizens. Which kinda defeats the purpose of a single currency if you ask me....
Cheers, Vikram.
The cold will freeze our stares We won't care...
You can not leave politics aside. As currency values are very much affected by the political and economical stability of the country. south asian economies are not yet that stable and maintaining common currency will be very hard or say impossible at least for now. Ankita