A single global currency?
Some people believe that trade and travel would be easier with a single, global currency. It may seem a superficially attractive idea but on closer examination it seems extremely naïve.
is the view that a single currency would promote international harmony and
cooperation.
difficulties, one way out is to alter its exchange rates; this would not be possible with a single currency. Above all, the idea that rich and poor countries can share the same currency is basically impractical. We need only to look at the present (2011-12) euro crisis to see that even the relatively affluent countries of the eurozone are struggling to share the same currency.
Overall, the idea of a single global currency seems driven by the same utopian vision of world harmony that inspired the creation of a so-called international language, Esperanto, about a century ago. That didn’t work. Neither would a single global currency.