International Monetary System

Introduction

There are proposals that the global and economic crisis of 2007-2009 were largely caused by global imbalances. Solution to revert this problem has been concentrated on reforms to be made in international monetary system. However, there are significant and great problems that surround implementation of an international monetary system. The US dollar has played a major role as an international currency in which there has been great pressure for it to evolve with the international financial system. This calls for a radical reform in order to implement an….