When countries are formed, most prefer to form their own monetary system so that their economy is not dependent on the strength or weakness of some other country’s economy. Not all countries have done this, though. The Argentine peso has been linked to the American dollar, and several South American countries have been considering adopting the American dollar as their own currency, as a way to introduce economic stability. Another example of the consolidation of currencies for the purpose of economic stability (and lower costs for international trading) is the European Union’s euro.
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