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Europe

Euro’s ‘Father’ Calls for Global Currency

Robert Mundell, the Nobel-prize winning economist often credited with paving the way to the European single currency, has called for a global currency. In an interview with French paper Libération, Mundell said: "With the emergence of the euro and its instability against the dollar, Europe, the United States and the Asian powers should come together and create a new international monetary system." However, this would not mean the end of the euro or the dollar. "Of course, one would keep the dollar and the euro," Mundell explained. "This international currency would be used in the large international exchanges, for movements of capital and commercial transactions." ( EUobserver.com)