NationStates Jolt Archive


Single currency?

Skizzy Lizzy
16-03-2009, 16:37
Has anyone proposed a resolution to have all WA member states adopt a single currency? If not, is there any support for such a proposal? Would this be prohibited as a change in game rules?

If there's some interest, I'll begin work on a draft resolution.
Omigodtheykilledkenny
16-03-2009, 16:52
I'm pretty sure forcing members to change their currency would be a metagaming violation. There was a resolution at vote about two years ago to institute a voluntary international currency, but it wasn't very popular.
JenningsandRall
16-03-2009, 18:05
Although I am unsure of the legal restrictions of such a resolution, Jennings & Rall would have no interest in transferring currencies. Countries with a stronger currency would not be acting in their best interests, as the majority of WA member states are newer, and their economies would bring down value of such a currency.

- World Assembly Ambassador Matthew Blake
Skizzy Lizzy
16-03-2009, 19:38
The idea of a single currency would be to give WA members an economic advantage relative to non-members. Concessions could be made to win support from larger states (e.g., having the central bank staffed by big states' reps exclusively).
JenningsandRall
16-03-2009, 19:48
A single unified currency in theory is only intended to facilitate the ease of financial transactions. Currently the Universal Standard Dollar fufills this purpose, as every state can easily trade their own currency for a universal currency.

Saying this, a universal currency would only prove to be more hassel by lowering the value of the dollar for larger nations, which would have to support it, and giving mild benifits for newer, economically weaker states.

The only purpose that I see this working is to create a more standardized economic enviorment for private citizens and organizations by not having to exchange values.

- World Assembly Ambassador Matthew Blake
Metallo Pesante
17-03-2009, 15:50
interesting idea..but i think that change offices will going crazy
Beirut Angeles
18-03-2009, 01:02
I would support the use of the Eurollar, currently Beirut Angeles' National Currency, but I would assume if put to vote, the resolution would be overturned.
Kelssek
18-03-2009, 01:51
The idea of a single currency would be to give WA members an economic advantage relative to non-members.

No it wouldn't. In fact, it would pose a severe impediment because states would lose all control over their monetary policy. The wide variation in the levels of development, economic ideology, culture, and fiscal health of the nations of the world make any global single currency impossible, or at least, a very bad idea.

Concessions could be made to win support from larger states (e.g., having the central bank staffed by big states' reps exclusively).

This would basically mean that the "big states" have a shocking amount of power over other states' economies, and that is completely unacceptable. You can also be rest assured that the decisions made by this body would be completely geared towards their interests with no regard for the effect it will have on other economies.