Musings on the European Economy...

...with a travel theme, of course!

After reading about how the economy in the Euro zone has ground to a complete halt (you can see what I was reading about here...), I found myself- very selfishly- pondering what it would be like if the Euro was deemed a failure as a universal currency, and thus abolished.

The first time I travelled to Europe, the French still sold things in Francs and the Germans in Marks. Five French Francs were equal to approximately one Canadian dollar in those days. Travelling in France still wasn't cheap, but the debts you incurred were the pleasant, manageable kind that, although not exactly fun to repay, brought back a sense of happy nostalgia for baguettes and cheese with each installment. I don't think I even need to mention the joy that travellers experienced while on the continent, knowing that their spending money was going further than it would have at home. I have never met a woman who didn't relish a memory of returning to North America with a gorgeous Parisian dress, and smiling quietly at all the compliments she received, knowing her je ne sais quoi ensemble cost little more than 20$? It was glorious! But beyond that, using Francs was a part of experiencing French culture, whereas spending Euros- which belong to everyone and therefore cannot be sentimentally tied to anyone- is a soulless, wholly economic endeavour. There is little, if any novelty in it. Francs were French. Euros are money.

From the perspective of a very amateur economist, I can see that why the Euro seemed like a brilliant idea. But history and game shows have shown an old proverb to be true: a chain is only as strong as its weakest link. The strongest economies in the Euro zone, rather than buoying the weaker ones, have been dragged down. In another, Euro-free world, smaller economies might have suffered smaller losses, and been equipped to shoulder them alone. In the reality in which we now live, a recession in the entire Euro zone has already proven a crushing blow.

I know it's crazy to dream that the French will return to trading in Francs. But I can't help wishing that maybe one day I'll be able to pull my old collectors' items out of the piggy bank where I store useless money- devalued Mexican pesos, African bills once given out as cereal box prizes and, alas, my old Francs- and use them to buy myself an Orangina at a café in Paris.

It doesn't seem all that likely. I'm just saying...

Bisous,

Cee

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