Trade and travel would be a lot easier with a single, global currency that we all use. Do you agree or disagree with this statement? Would a single currency cause any problems?

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Insurmountable financial problems that we have been trying to cope with, have made us think about going towards a unit
currency
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worldwide by which we can bypass the obstacles currently existing in front of us in trading and commerce.
However
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, I would say
this
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will not be a good idea as it will worsen the
situation
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by provoking more economic turbulence. Both sides of the debate as well as some problems expected to arise by
this
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decision are explained as follows.
On the other hand
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, some economists believe that having a single
currency
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trading and
subsequently
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will bring about more economic prosperity. Exchanging
money
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has served as a barrier in large scale businesses and those involved have always been lodging complaints about the difficulties the exchange process has imposed on them. In every ,trade a certain amount of commission must be put aside and
this
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is just the tip of the iceberg, the rate of different currencies against each other fluctuates instantaneously and a mere unexpected alteration would make a huge difference.
On the other hand
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, though, I would assert having a unit global
currency
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not only would not help international commerce
,
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but
also
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could exacerbate the
situation
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as from an economic point of view our
world
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is so uneven. Comparing today's economic
situation
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of the
world
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, we encounter a huge gap whose bridge does not seem possible in short term. Having a single
currency
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would worsen the
situation
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a
money
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laundry could become more accessible for drug dealers and smugglers, not to mention terrorists. Take Europe as an example in which almost all countries are developed and have a satisfactory annual income per capita.
Nonetheless
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, the attempt to have a single
currency
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at the beginning of the 21st century almost has failed and some countries
such
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as the UK have withdrawn recently. Considering the economic homogeneity that exists in Europe, imagine how chaotic the
situation
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might get if all countries-including those so-called
third
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world
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nations whose economics have been getting smaller had the opportunity to use the same global
currency
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. As regards problems of having a global
currency
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, I would say
this
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would be a complete fallthrough as it would fan the flames of large-scale crimes
such
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as human trafficking and drug dealing, as felons would have the opportunity to transfer
money
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without being questioned. Exchanging process is currently serving as a barrier against
money
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laundry and without it, anarchy is inevitable in
money
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circulation.
Further
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, it is the competition that has been punishing forward our
world
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. Having been stuck in
this
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unwanted rivalry, countries must put their best foot forward to stabilize their position in the
world
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. Undoubtedly. without
this
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, a competition we would not come
this
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far and we might be still dealing with meeting our rudimentary needs. In conclusion, having a unit global
currency
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seems fantastic, it is fanciful though and without meeting some preconditions
such
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as reaching universal equity, it is nothing more than bluff for some politicians intending to get under the spotlight.
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Topic Vocabulary:
  • global currency
  • economic interdependence
  • financial autonomy
  • exchange rate
  • monetary policy
  • economic instability
  • international cooperation
  • economic disparity
  • global transactions
  • implementation challenges
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