Submitted by Walmartpancake t3_zx7mc7 in explainlikeimfive
Dreizahn t1_j1ytu83 wrote
As monetary policy is a great part of sovereignity, states tend not to let a supranational organization make those deciscions for them. There is of course the concept of a universal currency (see Keynes' Bancor) while maintaining the national currencies. As this role is - for historical reasons (see Bretton Woods) - currently occupied by the US$ and there is no rival challenging the concept itself, a global currency is far away.
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