Makeup artist at Jawed Habib | Posted on | News-Current-Topics
Blogger | Posted on
In any case, all inclusive money disposes of hypothesis on cash quality and enhances certainty. Part of organizations are beginning and spreading as a result of certainty on cash and national banks execution. Poor nations like Somalia get parcel of business trust as they receive all inclusive money.
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Engineer,IBM | Posted on
Sure the world is becoming more open, in
terms of trades and transactions. And countries’ economies are becoming more
intertwined. There are few benefits of having single currency in the world,
including ending currency crises and fluctuation risks.
However, this idea of having a universal
currency is not only challenging but also impractical on many fronts.
Different countries have different sets of
rules, regulations, and policies. To that, they want to enjoy monetary
independence. Although all want
stability, they have different short-term economic goals and priorities (some
wants less poverty, others want higher employment). To achieve these goals,
implementing or changing the internal policies might affect their global stand if
sharing the same currency; or that the global monetary condition might affect
their internal policy makings.
Look at the EU. The 17 countries share the
same currency. And the financial troubles in Spain and Greece in 2010 are often
credited to this.
Another big challenge is forming a global
body who will handle the policies and regulation of single currency. What are
the chances they won’t go rogue. UN is already accused of prioritizing
diplomacy over science.
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