The
idea of a single unified global currency is an impressive and remarkable
action. There is no doubt that trade and travel would be easier. In spite of
that I think that it may cause various problems today.
There are many advantages of having single
currency such as the Euro in Europe. Whenever we travel between various Europe
countries, the problems of changing and exchanging rates are history. For instance
and from business perspectives, it's easier to use a single currency in
different transactions to avoid any conflicts and risks that use of the US
dollar is similar; even most countries accept the US dollars in many aspects
either in tourism or in trade transactions.
However there are many problems in
having a global universal currency. First of all, from an economic perspective it's
not easy to accept this idea most developed countries face some political,
legal and economical inflation. Such countries could not easily be brought into
the single currency because of some restrictions in fiscal and monetary
governmental policies.
Overall, I believe that the idea of a
universal currency has a reverse flow. It may be effective in trade
transactions and tourist purposes but it may raise various problems and
conflicts between countries.
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