Question

What will happen if all countries switch up to one currency

Answer 1

A global currency could have several disadvantages, such as precluding nations from using monetary policy to regulate their economies and stimulate economic growth.

Step-by-step explanation:

Not having your own currency means that you lose a very valuable tool and it is harder for you to fine-tune your economy or adopt policies that are more suited to your special needs, you being a country.

Answer 2

A global currency would mean all transaction costs related to international finance would be eliminated as well. ... Having one global currency would eliminate all of this. Individuals traveling abroad would benefit as well as businesses conducting operations in other countries.