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Re: Would a Single Global Currency Have Helped Cool the Meltdown?
Posted by: Theodore F. di Stefano 2009-02-27 13:33:09
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"As the world struggles to rebuild confidence and trust in markets, the values of currencies fluctuate widely and cause uncertainty and increase currency risk," according to Morrison Bonpasse, president of the Single Global Currency Association, as he speaks with E-Commerce Times columnist Theodore F. di Stefano. "For example, the value of the UK Pound decreased by 23 percent in relation to the euro over the past year, which is a dramatic shift between two of the world's major reserve currencies."
I really doubt that governmental sovereigns will abandon their local currencies.
There may be the possibility of some universal settlement currency for international transactions.
Deciding just who would administer the one world currency used for international transactions would be problematic however.
An example would be the WTO. Depending on the nationality asked -- you would get differing opinion of each rulings' affects.
There may be the possibility of some universal settlement currency for international transactions.
Deciding just who would administer the one world currency used for international transactions would be problematic however.
An example would be the WTO. Depending on the nationality asked -- you would get differing opinion of each rulings' affects.
