April 8, 2009

Will there be one world currency

The value of currencies have had a serious knock on effect on commerce throughout the world and indeed have to take part of the blame for the current financial crisis that still effects a great deal of the world.

However, if there were a world currency would things have been different?

Surprisingly it is the Chinese who have suggested a global currency, although this notion has been kicked around in the academic and some political arenas throughout history. The most recent unification of currencies the euro demonstrates how this can be achieved.

The thing is that as with the euro its fines while the economy is working ok, but when things start to go wrong then that is the time when the new currency is blamed for what of happening. As it is now with the euro zone.

Source [MSNBC]