For a global currency

Pantelis Kasapis, member of the Commission for Traffic and Infrastructure of the Democratic Party (DIKO) in Cyprus, argues in Philelefteros newspaper for the creation of a global currency. The advantages of such a currency would outweigh its costs, Kasapis writes, because it would engender "greater economic efficiency and transparency, facilitate the comparison of prices ... , reduce exchange rate fluctuations, and boost global trade. ... The adoption of a global currency would create a strong basis for a true global economy. This would guarantee stability for traders and protect savings. ... The major obstacles to such a project are political. The disadvantage of a global currency is that with it nations would lose their hold over monetary and exchange rate policy. ... A realistic ... solution would be maintaining the three strong currencies (yen, dollar, euro) and developing a uniform monetary policy."

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