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Bulgaria to join euro area on 1 January 2026

(www.ecb.europa.eu)
257 points toomuchtodo | 2 comments | 09 Jul 25 00:44 UTC | HN request time: 1.05s | source
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v5v3 ◴[09 Jul 25 04:21 UTC] No.44506323[source]▶
On the one hand, countries with different economic strengths having the same currency managed centrally isn't ideal.

But on the other hand, anything that reduces the domination of the US dollar is welcome.

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beAbU ◴[09 Jul 25 06:03 UTC] No.44506755[source]▶
> On the one hand, countries with different economic strengths having the same currency managed centrally isn't ideal.

Isn't this kind of what the US is doing though?

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lmm ◴[09 Jul 25 06:48 UTC] No.44506993[source]▶
The US has a much more integrated economy - businesses operate nationwide, employees routinely move across the country, and most economic policy is set centrally. And even then there are still downsides where e.g. interest rates set to suit the national economy exacerbate the problems of the rust belt.
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knorker ◴[09 Jul 25 07:59 UTC] No.44507365[source]▶
> businesses operate nationwide, employees routinely move across the country

Could you elaborate on what you mean? I've not run a business, but from the people I know who do complain similarly about cross-EU and cross-US-state business.

Like the company based in Texas who got their first employee in New York. Suddenly they needed some sort of presence in New York State, get a separate insurance, and accountants for New York State. (federal, state, and city income tax). They have to really want that employee.

From what I've heard, selling across state lines is fine in either case. Getting employees / expanding into new state is in both cases a big deal. Withdrawing (presence, not sales) from a US state is spoken about similarly to if it's a new country.

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1. lmm ◴[09 Jul 25 08:42 UTC] No.44507642[source]▶
Opening an office in a new state may be just as difficult as opening an office in a new country, but my sense is that both a) selling to the entire US and b) hiring employees from the entire US (with the requirement to relocate to the state where you operate) are substantially easier than doing the same things across the entire EU.
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2. knorker ◴[09 Jul 25 09:43 UTC] No.44507979[source]▶
To be clear, I don't just mean opening a physical office. I also mean the cost of having your first remote worker who lives and works from another state.

For employee relocation, that's definitely true. Even moving from Hawaii to Alaska is less of a life change than Spain to Poland. Or hell, probably even Spain to Portugal.

I'm surprised to hear you say selling would be that hard, though. It'd be interesting to see a comparison. And there's also both B2C and B2B.