• [영어토론] Renewing Europe by Emmanuel Macron / 유럽의 재생, 엠마뉴엘 마크롱
    Study/English 2019.03.16 15:56

    Renewing Europe by Emmanuel Macron

    유럽의 재생, 엠마뉴엘 마크롱

    K: Okay, the title of this article is Renewing Europe, it is written by Emmanuel Macron, the president of France. That's why I pick... this article, but actually the contents is not... is not creative. He said, Brexit is not... good for... British and for the European people, and he said that there are many demerit in the escape from the EU. And, he emphasizes the historic meaning of EU, he thought EU is not a economic concept... but... .... an economic concept, historic concept, and political concept. Actually, we know the detail already, so I just wanna say only one thing. He said... he said the advantage of EU is to defend financial crisis but I think the financial crisis is weakness of EU. Because they can not solve this problem, because they can not handle their currency so they can not use the effect of ... the natural effect of currency, so how do you think of it? 

    H: First of all, I... as I read this article, I found out that what he talks this about, you said it is not about economical things but whole things. Last time, we talked about this, I said similar value what he said, and what I said, I think..., I thought which is right, I can't agree with this article but you know but the... ... since he is a french president, he think all about, EU's major group's opinion, so it is not balanced, kind of bias... the currency problem might happen but what if all currency break up, then Marc of Franc, still has their position... they would have their position, they are still strong, also have a flexibility. So, that dosen't matter to them. But the currency of weak currency, they lose Euro, then the financial crisis to them would be, I think, much more greater so their value collapse.

    K: Yes, but that will be... that will increase them to recover financial crisis.

    H: But is, the country is kind a ... stable then the ... ... volatility and flexibility is good thing, but if currency doesn't have any power then like what we happen in IMF, the... ... a country's currency collapse, value collapse, then their financial shock, economic shock so strong, many people lose their job, I think, ... ... for small countries... um... using Euro also have defect, but on the other side, on the stability, the currency of value, Euro has the positive effect. Yes, I think it could be arguing object, but I think using Euro could have benefits, too.

    K: But I think... the collapse of Korean currency is the... fuel to overcome IMF crisis..., so I mean if Euro is not existing... if ... Euro do not exist their currency can move very flexibly the... concerning the value of the currency, so.. it... it can have to decrease the balance of ... balance of trade. 

    H: But I think... yes, I know, I know what happen that kind of thing in our country, but that's because our nation has kind of strong manufacture system, but... for the country with no stable manufacture thing, they don't have anything to export, those country if their currency collapse, then all their inflation rate reach very high, they have nothing to sell, so those countries such as Greece.

    K: But, they have a lot of attraction ... they ... they ... they are earning the money from their tourism ... so if their value of currency low, many people will go to the ... go to the country, so they can earn a lot of money.

    H: But, I think financial crisis mean, ... financial crisis over all countries ... all entire group, ... for our example, if I don't have any money, although the ... although I travel cheaply into Greece, I won't go whether or Greece ... whether currency of Greece is low or high, so ... unlike the manufacture thing, those tourism is really ... kind a ... ... I think, they are more affect the total economical circumstance rather than currency, so ... ... such as Spain, they have well stable manufacture thing, so If they could they have flexibility on their currency they will have benefit from breaking Euro. But for the country rely on the tourism stuff, I think they could earn some benefit, but I think their defect could be larger.

    K: You mean the ... in the other way?

    H: It since although .... .... Since Greece, although their currency price get low, if global condition is not good, no one would come, so their defect is larger than what they could get benefits.

    K: Actually, you know, the shock of the financial crisis is different among the countries. Actually ... the ... For example, ... in the 2008, there was a big financial crisis, but actually our ... our country is not suffered from that crisis strongly. So, at that time, I remember many people went to other country, so, I mean, there ... there .... there is demand anytime, anywhere. 

    H: You know the start where Greece's economy ... economic break started from the sub-prime mortgage situation, called the global financial crisis. That's because ... ... what we call ... ... ... era of ... - before the global financial crisis happen ... the whole world ... flourishing kind a ... ... well ... so the world's economical situation was great, Greece government decided to invest on tourism stuff rather than making stuff, they made lots of tourism items, but the global financial crisis came, so no one come to Greece.

    K: That, that, that, that's because they used the Euro.

    H: No, I don't think that because of the currency. Of course, they could matter some factor but I think the main reason is the I have money or not ... ...

    K: But the amount I have it different ... ... Um ... it depends on ... the other countries' currency. The money is relative concept I think. So if I have a one dollar and ... the exchange rate ... ... ... ... Any way, the exchange rate is a thousand won, but if the exchange rate is rower to eight hundreds ... I just have only one dollar but the value of money I have is different. So you said the demand of tourism is depend on how much I have money so how much I have money is depends on the value of currency I think.

    H: I agree with the ... I know the ... process of how the exchange rate move but what I'm saying is not that kind of thing, I'm saying is that our condition is not good, try to buy goods related to our life, directly related to our life and we try not to buy luxury item. And I think tourism is the sort of luxury good so the global condition is not good, whether their prices high or low, whether the tour price is high or low, since tourism is luxury good, so the demand for luxury good go down, so what I'm talking is not exchange rate.


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