Title: One World, One Currency: Could It Work?
Headings: One World, One Currency: Could It Work?
One World, One Currency: Could It Work?
Who Would Benefit?
The Disadvantages
Supply and Printing
The Bottom Line

Content: 7 ﻿
Supply and Printing
The supply and printing of a global currency would have to be regulated by a central banking authority, as is the case for all major currencies. If we look again to the Euro as a model, we see that the Euro is regulated by a supranational entity, the European Central Bank (ECB). This central bank was established through a treaty among the members of the European Monetary Union. 8 ﻿
To avoid political bias, the European Central Bank does not exclusively answer to any particular country. In order to ensure proper checks and balances, the ECB is required to make regular reports of its actions to the European Parliament, and to several other supranational groups. 9 ﻿
The Bottom Line
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At present, it appears that implementing a single currency worldwide would be highly impractical. Indeed, the prevailing theory is that a mixed approach is more desirable. In certain areas, such as Europe, gradually adopting a single currency may lead to considerable advantages. But for other areas, trying to force a single currency would likely do more harm than good.