Macroeconomics Environment of Business Essay Example | Topics and Well Written Essays - 2750 words

Macroeconomics Environment of Business - Essay ExampleMoreover the population and area of India is much larger than the combined area of exclusively countries under EU. On the other hand there is the example of USSR breaking up into 14 smaller countries. Ruble was the currency of a unified USSR, only now the newly formed countries have come out with their own currencies while still accepting Ruble. This system as working fine as well. In fact success of any unified currency depends largely upon the sincerity and integrity of member states. In the case of EU the member countries move intot have a history of fierce rivalry or enmity like between Israel and Palestine (or other gulf countries), India and Pakistan or the tatty war between US and USSR. So far each member has displayed maturity and commitment towards the unification move, recognizing the potential of unity for all. Moreover these are first days and initial hiccups are bound to crop up. To think that there shouldve been multiple currencies only because there have been such an arrangement in knightly means were not taking lessons from history. Think about the multiplicity of efforts and resources that are required to maintain two types of currencies simultaneously. Under such circumstances, if all 12 member countries use their own currency together with EMU, at times the chauvinistic feeling also crop up which may bring up the thought of putting ones countrys currency over that of the unified currency (which in totality means nobodys currency).