Discussion: Should the World Adopt a Single Currency?

AlexandraStanFan

Quote:

What's the Latest Development?

Despite rioting in the streets, the Greek parliament has passed a series of spending cuts after lengthy negotiations with private banks and the European Union. Even though the instability of the European economy is on the world's stage, other countries like Turkey, Poland and the Czech republic will likely continue their efforts to join the EU and adopt its official currency. Adopting regional currencies like the Euro is typically attractive because it eliminates barriers to trade, increasing the flow of money between national economies.

What's the Big Idea?

Are national currencies relevant in our globalized world or are they a relic of a political system which has not caught up with changes in transportation and communication technology? Smaller regional states like Panama, Ecuador and El Salvador have officially adopted the dollar while 'spontaneous dollarization' elsewhere is not uncommon: "More than half of the bank deposits in Latin America are denominated in US dollars." Some say a global currency would promote prosperity like a global language by reducing (economic) misunderstandings.

Interesting what is your take on this?
http://www.bigthink.com/ideas/42429

ashuduff

Are you trying to appear smart?

A single world currency sounds heavenly, but isn't going to work. There's a reason the UK's been rejecting the Euro for so long and it's a very good one - how can a strong economy be expected to have the same currency as an efficient one without throwing both countries into chaos?

cheers09

i think there's a reason why the value of currency from each country isnt balanced.. lol.

Thisisit

This would just lead to what's happening in the EU now on a much bigger scale.

Midnight

Quote:

Originally posted by ashuduff

Are you trying to appear smart?

A single world currency sounds heavenly, but isn't going to work. There's a reason the UK's been rejecting the Euro for so long and it's a very good one - how can a strong economy be expected to have the same currency as an efficient one without throwing both countries into chaos?

But they're gonna get you for the spam, sis.

AlexandraStanFan

Quote:

Originally posted by Midnight

But they're gonna get you for the spam, sis.

Did know they had rule established on spamming though? Guess I'll have to take my ban because I was just bringing forth something new to discuss in The Lounge. But rules are rules and I broke them
But no way was I making threads to appear smart or win over ppl who called me dumb. Just wanted to post topics that I felt needed to be discussed

ashuduff

And yet you didn't discuss it.