OK, you know how we keep hearing that the new world currency supplanting the dollar is a long way off? Well, some folks have other ideas…at the very least, they’re getting ready for the day, whenever it comes. From Bloomberg News:
By Lyubov Pronina
July 10 (Bloomberg) — Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a “united future world currency.”
“Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.”
The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said.
The question of a supranational currency “concerns everyone now, even the mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good sign that we understand how interdependent we are.”
Medvedev has repeatedly called for creating a mix of regional reserve currencies as part of the drive to address the global financial crisis, while questioning the U.S. dollar’s future as a global reserve currency. Russia’s proposals for the G-20 meeting in London in April included the creation of a supranational currency.
“Unity in diversity” is the foundation that drives this initiative, which started up in 1996. Its aim is to bring people together and go beyond national stereotypes. Its historical importance is even greater than its economic one; it is a goal built on faith, common hope, and the unification of cultural and spiritual roots.
So, this project was underway in 1996??????
If you go to The Long Path section, you’ll see the history of this project. Here’s an excerpt:
In 1996, Sandro Sassoli had the brilliant idea that the “Ecu”, as the Euro was then known, was not the only opportunity for linking different countries together. Dr. Sassoli is an Italian journalist with a number of high-profile projects to his name. He worked on the ITALIA 90 World Cup campaign, promoting a range of products tied to the official mascot and logo, and inventing the Platinum Ball Trophy. As Chief of Special Programs, he developed a “Year 2000 Medals” project on behalf of the Italian State Mint. He was also responsible for the “Gold Books” program, which featured pages in real gold, and official celebrations to mark the end of the Italian Lira (The Last Day of the Lira at Rome’s Trevi fountain, and the Monument to the Lira, made by real coins).
Against this professional background, Dr. Sassoli believed that another new currency could be possible in the wake of the new European single currency. Giving the new future currency the draft name “Eurodollar”, Dr. Sassoli believed that the Eurodollar was a natural consequence of the historical ties between Europe and the United States. A centuries-old relationship formed by common roots, views and goals and a similar melting pot of different races.
An ideal Manifesto for the program, comprising 10 articles, was drafted in Brussels in 1996. This document has been modified since then, and is now definitive. (more)
Gee, as a kid, my relatives always brought me lira and I still have some. Light–very light–coins, as I recall. Like play money…and worth about as much…
FIRST TEST ISSUE:
OBVERSE the “Number 1” icon is repeated five times, representing the five continents. The border inscription reads “Unity in Diversity” and includes the first issue date of 2009.
Author: Luc Luycx, Royal Mint of Belgium.
REVERSE: the Tree of Life, with five leaves symbolizing local tree species that grow in the five continents. The border inscription reads “United Future World Currency”.
Author: Laura Cretara, former artistic chief of the Italian State Mint.
THIS IS FREAKING ME OUT!
But, apparently, the people in the Photo Gallery are all excited about this!
People from various national mints, even Sophia Loren and MARIO CUOMO, all grinning ear to ear!
And, guess what? There is a School Program that’s been involved in coming up with a name and symbol for the currency.
640 children (325 boys and 315 girls) aged between 7 and 18 years took part in an internal competition to come up with a name and symbol for the new currency. This was after they had received input from journalist Sandro Sassoli, creator of this project from its start in 1996 and numerous other events such as official celebrations of the Italian Lira, and from Professor Guido Crapanzano, monetary consultant for the Bank of Italy and representative for Italy on the European Central Bank (ECB)’s international jury which chose the Euro banknote designs.
An international jury, comprising the heads of the world’s leading mints, economists, Nobel-prize winners, and figures from the world of culture and entertainment (including Sophia Loren and Carlo Rambaldi, creator of E.T.), Luc Luycx (creator of the uniform side of the Euro coin), and Hans-Henning Goehrum and Albert Beck (presidents of the World Money Fair), will have the task of selecting and rewarding the children’s best work on giving the new currency its name and design.
Last validation date: The works have to be sent within 10 May, 2009.
And what is the prize for the winner?
1st work: 1 Gold Banknote, in pure gold 999.9
2nd work: 1 Gold Coin, official tender
3rd work: 1 silver coin, official tender
Getting the hint now about what to do with your dollars?
Filed under: Current Politics, World News | Tagged: "test" coin, Blooomberg News, G-8, global reserve currency, gold, Group of Eight, Italian lira, Italian State Mint, Mario Cuomo, Royal Mind of Belgium, Russian President Dmitry Medvedev, Sandro Sassoli, Sophia Loren, supranational currency, the dollar, the Euro, United Future World Currency, world currency, World Money Fair | 24 Comments »