OTTAWA: (CP/BN) - Academics, economists and politicians met last month in Ottawa to discuss the state of the world's economy. One of the key items discussed was the possibility of debate on a common North American currency to compete with the euro.

The Canadian center for Policy Alternatives conference heard suggestions of a common currency, the dollar, to be used by the United States, Canada, and Mexico.

Among those opposed to the idea was Auto Workers Union economist John Stanford. He warns that using the U.S. dollar would be Canada's loss. He says it would mean accepting U.S. leadership not only on currency but on Canada's socio-economic policies.

What's interesting is that economists in North America have known for years that the Europeans were working toward a common currency. Like so many things in this world the tendency is to wait...until it's too late. After the fact has become common place today. Although all nations live in a global village, some nations isolate themselves and then wonder what happened when the world doesn't unfold as expected. By the time North American economists even get around to discussing a common currency, whether using the U.S. dollar, or trying to incorporate a system that would include the Canadian dollar (often called the "loonie" due to the image of the bird on the reverse), and the Mexican peso, the European currency will be so entrenched in world economics that our economists would be wasting their time, not to mention tax dollars.

Recall the blessings God promised Israel if they followed the way He set out for them. "The LORD will open to you His good treasure, the heavens, to give the rain to your land in its season, and to bless all the work of your hand. You shall lend to many nations, but you shall not borrow. And the LORD will make you the head and not the tail; you shall be above only, and not be beneath, if you heed the commandments of the LORD your God, which I command you today, and are careful to observe them"(Deuteronomy 28:12-13).