With the world more economically and financially integrated than at any time since the late nineteenth century, a global central bank and a world currency would [seems like it would] make more sense than our confusing, inefficient, and outdated assemblage of national monetary policies and currencies. But it couldn’t work – and it doesn’t need to be tried.

One look at how disastrous the Euro has been to the member countries and you can see the consequences of such an idea first-hand. Each country is different, each country’s populations are different, each country’s economies are different and they need the ability to implement monetary policies that account for these differences and not having your own currency prevents this and results in the destruction of that country economically, even on a humanitarian level.

Source: Is It Time for Global Money? by Larry Hatheway and Alexander Friedman – Project Syndicate