this post was submitted on 20 Mar 2025
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I'm in. I'll miss the Loonie, but Europe's looking pretty good these days.
Using the euro is optional! Many countries kept their own currency.
Are there any non-founding-member countries that kept their own currency?
I believe it's mandatory for all new members.
Yes, it is. You can delay it indefinitely, though, and Romania is still on the leu. Other members have blocked them from making the switch, even.
We can still call the coins loonies and toonies, why not?
Same. I wouldn't mind switching to the Euro, but our coins are really cool and nostalgic for me. It would be nice if there were a way to keep them.
UK did exactly that. They never swapped their pound with euro. I'm all for it!
They were a founding member and got a special carve-out.
Theoretically, there's nothing stopping any new country from joining getting a carve-out. You just need everyone to agree to it. And tbh, getting them to agree to let Canada continue using the Canadian Dollar is probably a much smaller ask than getting them to let a North American country into the European Union.
Carve-outs of the rules have way more practical implications than just making the EU name slightly ironic, though. Asking for both just seems rude to me, but I could be wrong.
I mean, you get to put whatever on the reverse of the coins.
Well that's cool, then. I don't know anything about EU process or regulations.
The denominations are fixed: 0.01, 0.02, 0.05, 0.10, 0.20, 0.50, 1 and 2 for coins, 5, 10, 20, 50, 100, 200 and 500 for bills (although I've read the 200 and 500 had ceased production).
Every country can mint coins with bespoke faces, even limites editions, for commemorations and special events. Spain uses the Sagrada Familia for their lower denomination coins and the king's image for higher, Greece reproduced an ancient dracma in their 1β¬ coin, Italy as used the Vitruvian Man, France has the Republic in their coins, etc. Enough room for each country to express their roots and values.
That's interesting, thank you. I have another question, more for curiosity than anything else: Canada got rid of its 0.01 coin β if we became part of the EU, would we have to bring that back?
And a fun thing to do is to pick through your coins in your pocket and see the designs and where they're from. I currently live in Italy and we have a lot of Italian designs, of course, but also from all over. I hope one of yours will just have a maple leaf on it.
I'm hoping that, if this all does come to pass, we can put a loon on our 1 Euro coin and a polar bear on the 2 Euro coin. That's currently our tradition and it would be nice to continue it. Of course, a maple leaf is already on all of our coins so it stands to reason that that would also continue.
All that to say: if we were to join, you would more than likely get your wish. :3
The real thing I'd dread is that Euros are heavy as fuck. You have too much change in like half or less the time it takes here.
That's true, it seems like the loonie is 6.27g and the 1 Euro coin is 7.5g.
That's an increase of about 19.6% so that would kind of suck. The 2 Euro coin is heavier than the toonie by an even larger margin. Not to mention that we would also have to get rid of quarters and introduce 2 more coins: 0.20 and 0.02.
Huh. I guess some of the extra was just from the higher spending and no tipping while visiting. That makes sense.
Honestly, that wouldn't bother me. I guess a goose on one of them?
Assuming Canada would switch to the Euro, yes. You're referring to Canada also doing something to "block" the scummy x.99 prices, hence eliminating the 0,01 coin, right?
No, we got rid of the $0.01 (called a cent) because it was costing too much money to mint. I think it cost $0.03 to make $0.01, so we just stopped making them in 2013.
I can't really recall the exact costs but I know every single coin we mint is more expensive than the value it carries.
I think most of our coins (especially the larger loonie and toonie) cost less to mint than their face value, but I'm not sure of the nickel or the dime. When we were moving to get rid of the penny/cent it was a really big deal, but it hasn't really changed much in our daily lives since prices (the total on the final bill, not display prices) are now rounded to the nearest 0.05.
Nice. By excess or default? Because by excess, seems like you actively pay more.
By default. Of course, by the nature of approximation by excess, you will always pay more. I'm sure you can imagine that that would not have been popular, lol.
You'd be amazed. A local supermarket tried to set up a loyalty scheme where you would automatically round up to next unit and hold that extra on the customers account as a credit balance for next purchase. People loved it. Until it went bust with money they never returned.
Wow, what a scheme. I guess I would be amazed, haha. But on the scale of an entire nation I don't know if enough would be fooled.
I love my country but the last craze I heard from a national chain of supermarkets was having a prepaid card, that by pre-paying β¬100 or more you get an added 10%. Nah. But people love it.