Firms whose inputs are denominated in one currency and their outputs in another frequently get jilted.
The intergovernmental model in which one currency is backed by 17 sovereign nations is surely obsolete.
And just as you don't need more than one currency circulating in a domestic economy, so you don't need more than one global reserve currency.
Clues to how one currency will move against another are found in a slew of variables, including interest rates, budget deficits, surpluses and the political climate.
So instead investors are bombarded with endless research on why stock A is better than stock B, why one currency is bound to outperform another and so on.
Whereas in the recent past, one currency may be reduced in value compared with other currencies, this time there is global competitive devaluation as excess liquidity is put into the system.
Another was to use foreign currency: the bank could lend, or accept a bill of exchange, in one currency and collect its debt in another, building a hidden rate of interest into the exchange rate.
Markets in European currencies would be handier: companies that earn their profits in one currency but pay their debts in another must either gamble on favourable exchange rates or insure themselves, which adds to their costs.
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But despite having shared a single market with one currency for nearly a decade, the euro zone has never established the polticial and regulatory integration that would allow it to face a crisis of such proportions as one.
Even if e.g. raising funds to benefit stability funding were to be considered as an overriding requirement of general interest, that requirement could not explain why transactions involving countries with different currencies would be treated less favourably than those involving only one currency.
Today, as in the 1970s, Germany is Switzerland's largest trading partner, so a new Deutsche mark could in theory substitute for the euro, according to this person, although the bank is considering other scenarios, such as the formation of more than one currency bloc within Europe.
Living in one large currency zone has allowed eurozone companies to raise huge amounts of money to finance investments and expansion.
If your stake in one foreign currency is large enough (close to six figures), you could trade currency contracts on the Chicago Mercantile Exchange.
For U.S. investors who own foreign stocks or stock funds, they are, in effect placing two bets: One on the stock itself and one on currency.
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Various attempts to fix one European currency against each other, such as the Exchange Rate Mechanism, crumbled in the face of divergent economic performances in the countries concerned.
Spain, Portugal, Italy and Greece would all do much better taking the one off currency devaluation than suffering through the years, decades perhaps, of internal devaluation that continued euro membership will impose upon them.
Despite the success of the euro, which has been worth more than the dollar ever since the U.S. economy busted in 2001, there's no real plan afoot to put the world on a one-currency system.
One idea gaining currency is to limit the amount of contributions a candidate may raise outside his electoral district.
In Mundell's writings about a one-world currency, there's a strong preference for a Greenspan-style monetary policy, where price stability is the only goal.
Newly installed Prime Minister Shinzo Abe has made the depreciation of the currency one of the centerpieces of his controversial economic program, so there are expectations of aggressive tactics from the Bank of Japan, especially now that Masaaki Shirakawa announced on Tuesday his intention to step down early as its governor.
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According to a chapter in this latest OECD Economic Outlook (in which it saw a risk of stagflation for the global recovery), 60% of the 260-odd recent examples of countries receiving large inflows of capital have ended in a sudden and destabilising way, and one in 10 have ended in either a currency crisis or a banking one (maybe both).
The single European currency is one reason why such firms are changing their attitude towards shareholders.
But he was right that a debauched currency was one reason why a whole country could lose its virtue.
In 2002, the Euro became common currency for one week in Gloucestershire following the Republic of Ireland's switch from the punt.
Monetary policy must always keep at least one eye on the currency.
That trend has reversed though and one analyst says the currency may slide even further against the dollar before finding steadier footing.
One alternative is a currency basket reflecting the pattern of its trade.
Now its policy on the single currency is one issue on which the party seems more in tune than Labour with public opinion.
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