Discussing Global Currency
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Hi, I need some assistance discussing global currency. I am not too sure how to answer these questions.
Global Currency:
A. Pros and cons of a global currency.
B. Why a global currency might or might not be a viable exchange rate arrangement.
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With the push for the development of the Euro in 1995, which eventually replaced more than a dozen European currencies, the world took a step forward in creating a global currency. While there are several advantages that would come with a global currency, there are also several disadvantages that would need to be considered. One advantage would be the elimination of risk of a country's currency suddenly becoming less valuable on the world market. A global currency would also help eliminate transaction costs which are incurred when exchanging different kinds of money. Countries would no longer need to stock ...
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