eli5: Why can’t there be just one currency in the whole world?
In: Economics
It would stop countries from messing around with their own economy. Say you’re the government and you want to print a bunch of money for your coronavirus relief program – well, you can’t do that unless it’s your own currency.
Like how the states in the US had to end their coronavirus lockdown before the virus was actually eliminated, because they ran out of money to pay for the unemployment and the federal government wouldn’t give them more. If they had their own currencies they wouldn’t have that problem.
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