Came here to ask the same thing but I’ll add the two obvious bits since nobody’s answering yet:
Pro: the Euro is more widely accepted and adding Canada to the list would increase its viability as the only currently realistic alternative to the US dollar (besides maybe JPY but there are many other asterisks here I’m skipping for brevity)
Con: Canada would effectively lose control over its own monetary policy which may lead the 100+ countries who export their own money printing operations to Canadian mints to consider moving operations to the US or EU
Both: it would be easier to invest into and remove money from Canada in large quantities without affecting exchange rates
Came here to ask the same thing but I’ll add the two obvious bits since nobody’s answering yet:
Pro: the Euro is more widely accepted and adding Canada to the list would increase its viability as the only currently realistic alternative to the US dollar (besides maybe JPY but there are many other asterisks here I’m skipping for brevity)
Con: Canada would effectively lose control over its own monetary policy which may lead the 100+ countries who export their own money printing operations to Canadian mints to consider moving operations to the US or EU
Both: it would be easier to invest into and remove money from Canada in large quantities without affecting exchange rates
My understanding it will strengthen euro making exports less competitive