. Discuss the merits and demerits of a single unified world currency (paper money) whose supply is determined by a single global central bank.
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June 4th, 2010 at 11:45 am
For a case study take a look at what is happening in Greece and Venezuela today. Both countries have irresponsible governments. The Greeks are tied to the Euro, so they are unable to inflate their currency, Consequently they turn to their EU neighbors to be bailed out of the mess they have created. In Venezuela there are no such constraints, and the government is in the process of collapsing the country via runaway inflation.