Could The Whole World Use Just One Currency?
Economics Explained
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The Euro and the European Debt Crisis
A staggering 4% of Europeans live and work in a country different from their home country. Less foreign exchange friction means countries can get together to do business more efficiently. The benefits of a free floating currency tend to self-stabilize a country that is having issues. But of course, Greece was tied to the euro, so this didn't happen.
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