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The Euro Esperanto in Financial Markets

 


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Esperanto means in its own language: “one who hopes. " The euro is also introduced in relation to hope. Hope for a better financial world (limited to the Euro zone where it got introduced).

The Euro is a new currency that got introduced to end the exchange rate problems in the euro zone. One of such a problem is the continuous burden of transaction costs in inter-European transaction. To support the idea of a single European market a single currency was designed to lower the trade barriers between the member states.

Like Esperanto the Single Euro makes that people more easily understand each other in economic terms. When a real estate property has a price tag of 100,000 euros every user of the Euro will understand this value. The mechanism behind this understanding is that people - and this happens still today - will convert this figure to their previous currency and than only than really understand the value. In Spain a lot of elderly people handle finance this way.

Unlike Esperanto, the Language of the Euro is much more focused and dedicated to only one area: finance. One could wonder whether the Euro or Esperanto would bring people more together. If people in Spain or Germany would talk Esperanto would that also mean that their cultures would diverge?
The Euro is implicitly designed to serve a political means. Without the euro the European union would probably have faced much more challenges in harmonizing politics. At least the Euro is something very visible that people from different states share.

Esperanto will never make it that far.

H. J. B.

© Hans Bool

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