The End of National Currency

Author: Benn Steil, Senior Fellow and Director of International Economics
May/June 2007
Foreign Affairs

Global financial instability has sparked a surge in "monetary nationalism" -- the idea that countries must make and control their own currencies. But globalization and monetary nationalism are a dangerous combination, a cause of financial crises and geopolitical tension. The world needs to abandon unwanted currencies, replacing them with dollars, euros, and multinational currencies as yet unborn.

Read full article at ForeignAffairs.com.

More on This Topic