Quote:
Originally Posted by kerry
I don't think the problem is the variety of cultures. The US has a huge variety of cultures within its 50 states, yet it wouldn't face the problems of Spain or Greece because it is in control of its own currency and its value. Some countries like the UK and Denmark are part of the EU, but retained their own currencies. This serves their national interests much better I think.
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Kerry, since when the US is in control of as you said "own" currency? Correct me if I am wrong but the US dollar it doesn't belong to the US. As everyone knows the Federal Reserve is a privately owned bank. The name is hugely misleading.
According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government."
They can do whatever they want.
In your example of UK, they do have Central Bank institution: Bank of England that is responsible to answer to the government. Here Federal reserve is NOT.