Since the inception of the Euro, we saw the elimination of the exchange rate risk among those initial ten countries involved. Economic conditions improved for most countries involved. Would it be feasible to implement a new currency (similar to the Euro) called The West that initially involves the United States, Canada and Mexico? Eventually, other Latin American Countries will become part of The West such as Brazil, Argentina, Peru, Colombia, Chile, Ecuador and Bolivia.

1. What are the advantages of this move for a Western currency?

2. What are the disadvantages of this move for a Western currency?

3. Do you think Mexico will have the similar effects on "The West" as Greece had on the Euro? Why?