I’d imagine 50 years ago, if you’d have gone around europe asking if we’d ever have a single european currency, the answer would be a resounding no, never…
Firstly, for that to happen, nations would have to ‘give up’ or surrender their identity/pride in their own currency e.g. the lira, peseta, deutchsmark etc..
If everyone DID happen to agree on that, you’d then run in to the problem on managing a single currency – how/when would it be distributed?.. what conversion rates/value would it be worth against our old currency?
It was quite simply, a dream.. just like the dream of a global currency..
But are we really that far away from a single worldwide currency? Think of the time/money in the long run that would save us all..
Now there is the small matter of getting north korea/iraq etc.. to grow up and act their age when it comes to globalisation, but like i said before, 50 years ago in europe, the idea of a single currency was a mere dream.
So although it would require mass co-operation and communication, i would predict a global currency isn’t too far away.. certainly not the ‘impossible’ dream that many people may think it is..
Before we have a global currency of course, we could have a continental currency to break the idea in or put it in ‘beta’ mode for maybe 20 years… a single asian currency for example.. we already have the european currency.. perhaps a south american currency etc… anyone think i’m bonkers