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notice i said all...even though all is probably not a serious possiblitity due to lack of love throughout the entire region, but if most used the e.c. dollar for it's exchange (which is about $2.7-$US 1 right now...what do you think the exchange rate would be?
Would this be good or bad overall for the caribbean in the long term and in the short term?

layta,
roti

~Matthew 28: 18-20

Ideally, I suppose that it would be great if there were one Caribbean currency, practically I can't see it happening. The EC dollar has been at a fixed rate for quite some time now. With the vast difference in the economic structures of the countries not currently using the EC dollar, it would be interesting to see if the rate would go up or down. Some of these countries have enormous debts.
The Organization of Eastern Caribbean States ("OECS") includes: Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines. These countries are all considered small islands and have joined so that their collective voice can be heard within the region and the world.
Other islands such as Barbados, Trinidad and Jamaica which all have their own currency also have their own political and national agenda's. Barbados' dollar is actually in better shape than that of the EC dollar. Trinidad & Tobago being a Republic does not really have an immediate interest in joining the political plight of the OECS. I am not really certain what Jamaica's story is. Their economy could definetly use a boost as could Guyana's.

[font size="1" color="#FF0000"]LAST EDITED ON Jun-07-01 AT 08:27 PM (EST)[/font][p]Welllll... the idea of one C'bean common currency is a good idea and one that must happen eventually, but it's difficult to do cos there's so much divergence in the worth of our currencies. B'dos for instance is $2-$1 U.S. Bahamas (are we counting them? cos they seem to be kind of confused as to whether or not they are West Indian or not) is equal to the U.S.$, T'dad is I think $6-$1 U.S and J'ca is wavering somewhere around $42/3-$1 U.S. So someone will have to suffer if we did something like this. Frankly, I think B'dos could join with the E.C, dollar without too much difficulty, as there is a minimal difference in our values. B'dos joining could bring up the value of the E.C.

However, the problem is with the other three of the 'big four', whose dollars are... unhealthy. The thought of joining our currency with the J'ca or Guyana sends shivers down the spines of Eastern Caribbean ppl as much as the thought of them joing with us used to send shivers down their spines (how things do change :o

It can't be done now, but with real application, it could be done eventually, but it would have to be done in stages, like the E.U did, making countries demonstrate a certain level of economic stability before they can join. IT is for our benefit in the end...

One love, One Caribbean! :7

Being a bajan, I wouldn't want to form one dollar because islands like Guyana, Jamaica and even TnT wouldn't bring our value down. As far as the EC dollar all the EC states close to one another Barbados is separated so it wouldn't make sense to me.

There is an Italian saying,"Even the strongest man needs friends"!!! First lets address the point of Globalization and the FTAA. The Caribbean was probably one of the first nation to try and unite to form one economic body. This dream fell through when JA and TnT pulled out. Since that time we have seen the European unit, FTAA and lets not forget CARICOM. Unity provides strength!!! What does it truly matter how far apart we are from one another?? (by the way GND and St-Vincent are closer to Bim than they are to St-Kitts or Antigua). The reason why I quoted that Italian saying is because who CARES if Bdos dollar is worth more, this is not a true refelection of the countries wealth. Other factors need to be taken into account before we can say what Island is truely the best off. According to most articles I've read TnT leads the way by far!!!!!I'm not biased towards TnT this is a fact, and just for info I'm GNDian. TnT has one of the lowest cost of living among the islands which were discussed. Not to mention there enormous natural resources at their disposal. All that Bdos has is tourism (not too reliable, because this is a luxury and sugar cane, which is not being harvested in the same amounts as in previous years.) Barbados economy will not remain in its present state, that's a guarantee!!!

The wisest decision for all Islands is to merge and form a Caribbean Nation. This is the only way to curb the exploitation of our islands!!! JA has bauxite, TnT has natural gaz, Bdos is technologically advanced, the smaller island can focus on agriculture. We have all we need in the equation, and if CUBA gets involved with their health care system, the USA would just love that!!!!!

We are heading towards the time of a North American currency which will probably be the American dollar. If the Caribbean does not choose to unite quickly and form a single Caribbean currency, we will be forced into alliances as a divided front. If we can't unite with our brothers why would we run to unite with our oppressors???? This is not only a question of who's dollar is worth more presently, but rather it we want to establish an economic base for our seed to cheerish and build from!

Establishing a single currency will make no sense until all the Caribbean Countries can improve their econmies to a competitive and finacially sound level. Converging currencies will not produe an equal slate for all the Caribbean islands.

P.S. Bahamians are not confused about who they are, we are West Indian like everyone else in the region, but we are Bahamian first.

No economics major here

but i think Jamaica,Guyanna Haiti's and weak curency(to the US)
would weaken the others...

Do You People Realised When This Thread Started Cool Bahmian You Must Of Been Real Bored To Find This!?!?!

Until the islands start to trade amongst each other without relying on trades from other countries(aka US) then it wouldn't make sense to unite and de-value every ones currency. We need to first produce enough good to trade between each other then we can unite our currencies! Like they did with the EURO!

i was flipping through, i am a recent member, didnt bother to look at the date. besides this thread is not closed so it is still fair game for any member to respond. Not bored BTW.

While I'm not devaluing anyone's opinion, I'm not sure if most are looking at how economics works. It is far from as simple as "if u add a lower-valued dollar to a higher valued one it will go down."

We need to develop a region-wide economy that will harness the major exports that each country has. An economy that only exports sugar cane, or only bauxite, won't ever have a strong standing in the world. It could never compete with the major powers, which is why our current independent economies will forever strugle.

But now imagine an economy that has oil, bauxite, sugar, banana and other fruits/crops, coffee, spices, cocoa, etc etc. Such an economy would have a much stronger standing on the world market, and that's what we should be continuing to work towards.

agreed, however like the Euro.. the stronger countries will opt out. Just as the UK won't risk the position of the pound Barbados would never risk the position of their dollar. However unlike the EU... there are huge gaps between the value of the E.C. dollar and say the Jamaican or Guyanaese dollar. While the E.U. had differences, I don't they there were are large as the differences we find the caribbean.

I would love to see this be a reality but i think we have a long way to go. When it comes to regional unity we are light years behind.

Well said I'm with you!

I agree.

Just to add, comparing the EC dollar to Trinidad or Jamaican dollar is like comparing apples to oranges because the EC dollar is not free floating therefore it cannot be used as a measure of the strength of these countries' economies.

As a matter of fact at least 3 or those countries currently have serious cashflow issues that they are defaulting on their bonds.