The concept of a common North American currency has been speculated for several years now, but analysts say that the probability of the Amero being introduced is much higher now than ever before. Since the inception of the Euro, a european currency, it has experienced much success and has exceeded performance expectations. It is one of the leading currencies in the world now in terms of value. Canada, the United States and Mexico are said to soon follow suite as they look to further enhance and facilitate trading transactions with their current NAFTA policy agreement.
The clusters that will be most effected by this Amero currency would be the financial centers in these three countries; that would include Toronto and New York specifically. The Amero is vastly promoted among pro-capitalist economist’s as it will consolidate North America’s economic position in the world.
The study says Canada’s cultural sovereignty and political independence would not be affected by monetary union, arguing that monetary union would not inhibit Canada’s ability to pursue its own tax, spending, social, regulatory and foreign policies.
Related Links: http://www.cbc.ca/money/story/1999/10/05/commoncurrency991005.html
