Could The Whole World Use Just One Currency? part 3: Monetary Control

The video discusses the European debt crisis, focusing on the impact of the global financial crisis on EU nations, particularly Greece and Germany. It explores the challenges of shared currency, the euro, and its effects on borrowing and economic stability. The video also considers the idea of a universal currency, weighing its potential benefits and drawbacks, and highlights the complexities of implementing such a system globally.

What is one of the main reasons Greece continues to struggle financially within the EU?

• Greece is not part of the EU.

• Greece shares the euro with stronger economies.

• Greece has a high export rate.

• Greece has a strong currency.

Why does Germany face difficulties when borrowing money despite its strong economy?

• Germany has a low credit rating.

• The euro is less stable than Germany's economy.

• Germany has no infrastructure projects.

• Germany is not part of the EU.

How does a shared currency affect Greece's ability to boost its economy?

• It increases Greece's tourism competitiveness.

• It stabilizes Greece's economy.

• It allows Greece to easily devalue its currency.

• It makes Greek exports more expensive.

What is a major challenge in implementing a universal currency?

• Lack of a global central bank.

• No country wants to trade internationally.

• Too many countries already use the euro.

• All countries have the same economic strength.

Which countries use the euro without being part of the EU?

• Montenegro and Kosovo

• El Salvador and Zimbabwe

• France and Italy

• Germany and Greece

What is a potential consequence of a single world currency?

• Unlimited access to credit for all countries.

• Increased national control over currency.

• Elimination of international trade.

• A new era of mercantilism.

Why might a global currency system fail according to the transcript?

• A global central bank is easy to establish.

• Nations value their national liberty.

• There are no hostilities between nations.

• All countries are strong allies.