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mnbvcxz123 t1_j2bbz4l wrote

Reply to comment by Bomboclaat_Babylon in ELI5: Why can’t we have a universal currency? by Walmartpancake

US corporations keep taking gigantic bailouts, but it's not a problem for the overall US economy because the US can just print more money to cover the bailout.

If US corporate bailouts had to be paid in rubles (for some reason), that would give Russia a tremendous amount of leverage over the US economy, even though they have nothing to do with the US. And there would be nothing the US corporations could do about it.

That's basically what happened to Greece, and will happen to any nation whose currency is the euro.

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Bomboclaat_Babylon t1_j2cb0b6 wrote

Nope. Ps., why doesn't Alabma leave the US and make it's own currency so that it can't be "controlled" by California or New York? Truth is, it helps to be in a larger market as well as having some downsides. The Euro isn't what makes Italy have crippling red tape that makes any IT company unworkable. California isn't what made Alabama the poorest state. It's the choices they make.

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