This must be the European Union's lucky month! First the EU is honoured with the Nobel Peace prize and now a ringing endorsement by President Ricardo Martinelli of Panama who told German Chancellor Angela Merkel that he would like to adopt the Euro alongside the US dollar.
Panama, which straddles North and South America, has a buoyant economy which is forecast to expand thanks to projects centred around the expansion of the Panama Canal. The Euro is already the legal currency in French Guiana which is an overseas region of France, so it would not be new to the Americas. In Europe itself, ten out of the 27 member states have not adopted the Euro, although it is used by a few others that are not in the union, such as Kosovo, Monaco and Montenegro.
For all we know, Mr Martinelli's proposal might end up giving the Euro and even bigger boost than he imagined. After all, it he ends up with a happy relationship, perhaps the dollar will be invited to the old world to repay the compliment. And why not other currencies too? I am sure economists would have plenty of intelligent answers for that, but the simple one is that we would all end up spending too much time on our little calculators
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