In recent years, we have seen many European nations join together and create the European Central...

In recent years, we have seen many European nations join together and create the European Central Bank. It was created to utilize one form of currency for many nations, thus creating stability for this currency.

As the globalization of all economic activity continues at a rapid pace, is the world ready for a unified global currency common unit? Or do you feel that the world should continue to use multiple currencies? Explain.

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Answer:

As I would like to think bound together worldwide currency basic unit would positively happen one day, so we should good if we ease into it gradually. It would be when there would not be changing between Dollars and Euros and Pounds, the cash in the wallet of an individual is their ticket to ride anyplace. The new worldwide money would not be a dependent upon the requirements and governmental issues of one nation.

The standard of cash right now in the nation is the US Dollar. Brought together worldwide money may prompt depreciation of US dollar, causing some inflation in the process consequently useful for manufacturing base. It would be intense time for the greater part of the nations; anyway it is unavoidable, and step by step would improve steadiness in the country. Furthermore, non-inflating money for a standard would include compel administrations of all nations to keep financial plan or budget in balance as it would be a lot harder for nation to prevail upon the currency war.

ekkarill92 answered 2 years ago

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In recent years, we have seen many European nations join together and create the European Central...

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