Countries such as the U.S are purposely lowering the value of their currency to spark more economic activity and to increase exports.
My country was the only developed country in the world that didn't feel the effects of the GFC, but now we are being raped because the Australian dollar is worth more than the U.S dollar and our economy relies on exports.
A 1 world currency would make things 10x worse because countries rely on the ability to print more money if things get tough, but that wouldn't be allowed under a single currency considering all the other countries in the world would then suffer from the printing of money for just 1 countries benefit.
quote:
The Euro currency is not to blame for the economic crisis at all! On the contrary! It is exactly because of the Euro and/or Europe that not more European countries are in trouble.
It isn't to blame but it certainly isn't helping. We basically saw the domino effect. Greece was tied in with the rest of Europe via the Euro and as Greece went further down the drain it slowly started dragging other Euro countries with it.
I'm surprised that they didn't kick Greece out of the Euro in the end.
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