Cape Verde to join the euro?

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Should Cape Verde be able to mint its own euro coins?

Yes, just like Vatican or Monaco.
29
46%
No, like Kosovo or Andorra.
30
48%
Don't know.
4
6%
 
Total votes: 63

ThCollector
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Cape Verde to join the euro?

Post by ThCollector » Thu Mar 20, 2008 7:04 pm

Several portuguese news papers inform today that Cape Verde is discussing the possibility to make a special agreement with the EU so they can start using euro coins and notes, as anouced by the Prime-Minister. Cape Verde already as a flat rate with euro, that comes from the rate with former portuguese escudo. And euro is widely used on the islands, both by tourists and cape verdeans that work in the Eurozone.

More in portuguese here: http://ww1.rtp.pt/noticias/index.php?ar ... &visual=26

or here, a cape verdean paper: http://www.asemana.cv/article.php3?id_article=30716

I added a poll to this post so you can tell if you agree with a non-european country minting its own euro coins. Although they would actually be minted in Portugal, as it happens with cape verdean escudo. The papers don't focus on this issue, so I can't tell if it's even a desire of the cape verdean politians that are in favor of adopting the euro.

My opinion: totally in favor, is much more weird that a not-a-real-country-but-a-religious-organization like the Vatican can do it.

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Post by capitobi » Thu Mar 20, 2008 10:01 pm

Hmm. Interesting! I suppose that minting those coins and using them in Cape Verde is not very much of a problem. Neither is the use of other €-coins, if they just decide on using them, but I believe that without being a member of the ECU their coins could definitely not be accepted in other €-countries. It is then maybe similar to the situation in Panama. They use USD notes and coins. Their own PAB-coins have the same value as USD and are equally accepted, but of course not in the United States.

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Post by Dakkus » Sun Mar 23, 2008 1:46 pm

I voted yes. However, it should of course technically work so that Cape Verde would be kind of "leeching" with the Euros, buying them from Europe. It can't get a quota of its own. This means that per each Cape Verdean euro minted, one Eurolander Euro less should be minted. (a bit simplified, I know)
But of course this is how it /will/ be done, anyway :)
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Post by melitikus » Sun Mar 23, 2008 2:49 pm

I voted No,
The Euro besides it’s a currency it’s also a European identity, so any country that is not in Europe doesn’t make sense to mint euro coins. How can a country located in Africa feature a European Map on its coins and banknotes and call its currency EURO (EUROPE)

I would agree more if they start to use the euro their currency ,however, having their own coins and designs, so that way the coins would not circulate in the eurozone.
Last edited by melitikus on Sun Mar 23, 2008 3:00 pm, edited 2 times in total.

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Post by De-Ker » Sun Mar 23, 2008 2:50 pm

i remember lot's of discussion when iceland wanted to adopt the euro, :roll:

IMO they should just adopt the euro like andorra did, so without own coins and stuff, EU can't really do anything about it anyway

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Post by ART » Sun Apr 06, 2008 9:00 am

I voted No, this is ludicrous.

Monaco, San Marino and the Vatican are particular and restricted exceptions: the monetary union cannot be transformed in an abstract entity in which every country that has close relations with the UE can emit euro. The euro it is the currency of the European union and it must be emitted from the states of the European union only.
Who wants to use the euro can adopting it easy for circulation, like in the examples of Kosovo and Montenegro, but not emit it.
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Post by Dakkus » Sun Apr 06, 2008 5:48 pm

ART wrote: Who wants to use the euro can adopting it easy for circulation, like in the examples of Kosovo and Montenegro, but not emit it.
Your suggestion is actually precisely what is being suggested.
The only difference would be that the coins they adopt would have their own national side. I don't see a problem in that.
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Post by Phaseolus » Sun Apr 06, 2008 6:04 pm

I support the viewpoint of ART. Because they want to use the euro, does not mean that they fullfil to the requirements laid down by the EU for adopting the Euro. (i.e. Maastricht criteria). They should not be allowed to mint of print euros.

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Post by Dakkus » Sun Apr 06, 2008 6:16 pm

Phaseolus wrote:I support the viewpoint of ART. Because they want to use the euro, does not mean that they fullfil to the requirements laid down by the EU for adopting the Euro. (i.e. Maastricht criteria). They should not be allowed to mint of print euros.
Why not. Please explain. (You're being very vague)
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Post by Phaseolus » Sun Apr 06, 2008 6:28 pm

Dakkus wrote:
Phaseolus wrote:I support the viewpoint of ART. Because they want to use the euro, does not mean that they fullfil to the requirements laid down by the EU for adopting the Euro. (i.e. Maastricht criteria). They should not be allowed to mint of print euros.
Why not. Please explain. (You're being very vague)
1. Your reasons for accepting are particularly vague and not really explained. :wink:
2. I explained that for minting or printing euro, you first need to pass through some requirements that are called "Maastricht rules" ; make a search on google if you want a full listing of these rules. :wink:

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Post by Dakkus » Sun Apr 06, 2008 6:33 pm

Phaseolus wrote: 1. Your reasons for accepting are particularly vague and not really explained. :wink:
For example Montenegro and Kosovo have already unilaterally acquired the Euro. How could including new countries be a problem.
In other words, why not?
Phaseolus wrote: 2. I explained that for minting or printing euro, you first need to pass through some requirements that are called "Maastricht rules" ; make a search on google if you want a full listing of these rules. :wink:
Not if you're joining unilaterally like for example Montenegro.
How does it hurt anyone if the amount of coins they /buy/ (_not_ /get/ !) bear their own national side?
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Post by ART » Sun Apr 06, 2008 10:12 pm

Dakkus wrote:The only difference would be that the coins they adopt would have their own national side. I don't see a problem in that.
Dakkus wrote:How does it hurt anyone if the amount of coins they /buy/ (_not_ /get/ !) bear their own national side?
If you talk about simple supply from the EU of coins with a national side purposely designed for the circulation in that country, but without that the country can emit independently euro, the speech changes.
I'm however contrary the same, because I don't appreciate the circulation of dedicate eurocoins of non-EU countries.
Last edited by ART on Sun Apr 06, 2008 10:25 pm, edited 2 times in total.
"Awaken, my child, and embrace the glory that is your birthright!
Know that I am the Overmind, the eternal will of the swarm,
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"Everything ends" (Ines)
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Post by ART » Sun Apr 06, 2008 10:20 pm

Phaseolus wrote:I support the viewpoint of ART. Because they want to use the euro, does not mean that they fullfil to the requirements laid down by the EU for adopting the Euro. (i.e. Maastricht criteria). They should not be allowed to mint of print euros.
My criticism was different: the point isn't the respect of Maastricht criteria but the emmission of euro from non-EU countries, out of discussion for me.
"Awaken, my child, and embrace the glory that is your birthright!
Know that I am the Overmind, the eternal will of the swarm,
and that you have been created to serve me."

"If you lose, you can't win" (Andrea)
"Everything ends" (Ines)
"Run not tired me" (Ines)
. . . . . . . . . . . . . . . . . . . . . . . . .
European soul, European pride.

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Post by Jes » Mon Apr 07, 2008 9:27 pm

I completely agree with you! :|
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