Task 6

           

Task 6

       It is a good idea have the same currency all over the world. It will be easier for the people to deal with other people with a similar currency. There can be no doubt that the trade and travel will be much easier. As everything has advantages, it also has disadvantages.

      There are many advantages of using a single currency which can been seen with the use in Europe of the Euro. And the US dollar is working in most of the countries and accepted. Also, in the Arab Gulf countries there is not really a single currency but the dirhams are accepted in Kuwait as in Qatar and the same for the others countries with the difference in the exchange rates. By accepting the currency union it is making the world as a small village or as one country.

 But on the other hand, there are a lot of disadvantages. Firstly, most of the countries will not accept that idea because it will affect their finances. Secondly, all countries are in different states. Some countries are economically very strong and some are in a state of weakness in the economy which can’t help the global currency, which will lead to economic crises . 

In conclusion, I see the currency union as a good idea in some countries like the Arab Gulf countries because they are similar in many ways and in their finances but not with all the countries.