Many people think that it would be beneficial to establish a single, global currency to make international trade and travel much easier. Do you agree or disagree with this statement? Would a single currency cause any problems? Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Nowadays, more and more economists and politicians believe that a global economy requires a global

currency

. I agree that commerce and tourism would significantly profit in

this

case;

however

, certain negative consequences would be unavoidable. On the one hand, the implementation of a standardised international

currency

would bring enormous benefits to the majority of countries.

Firstly

, the opportunities for free business would expand as the hardships related to the difference in exchange rates would be eliminated.

As a result

, international accounting and customs systems would become much less complicated.

Secondly

,

such

conditions would considerably contribute to tourism, decreasing its costs and simplifying its accessibility.

Consequently

, all these circumstances would lead to the strengthening of political relationships, as similar interest rates would discard a huge range of global collisions.

On the other hand

, the establishment of a single

currency

would have definite drawbacks. One of them is the vanishing of national identity, as each

currency

reflects the peculiar culture and language of a particular country. Losing these characteristics could lead to the disappearance of traditional cultures in favour of one global culture. Another disadvantage would be the enormous rise in the printing of fake money and its international circulation.

Moreover

, it would be arduous to identify and punish international criminals as the process of money exchange gives great chances to police services to determine them, serving as pointers to the countries of their provenance. In conclusion, the establishment of a single, standardised international

currency

would widen and simplify both business and tourism.

Nevertheless

, it should be expected that a range of negative influences in distinct cases would be inevitable.