Looking forward to achieve the unification to the international monetary system

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Mónica Alejandra Moreno Araque
International Finance
February 21, 2011

Looking Forward to Achieve the Unification to the International MonetarySystem

The unification of the IMS is nowadays one the most important goals in the road to the macroeconomic stabilization of the globalized world, but is this something really achievable? Theunification of the IMS is not just an economic process, is also the convergence between different sociopolitical aspects, which guarantee together the correct operation of the unified system.

Theformer requirement of any union is the congruence in the ideas between the parts look forward to achieve the unification, as the medium to get a solid one that helps to reach the objectives raised.

Thefirst important item in the road, is neither the economic nor the political part, indeed is the social aspect of the countries. The performance of a determined economy is the result of the politicalinteractions of the agents during centuries, which is in turn the consequence of the social development of the cultures.

The culture of the countries, thought as a historical process, determinethe behavior of each member of the society, and the mixed of this behaviors, the performance of the country trough the time. Thus, understanding the present of the economic situation of the countries,is the result of a strenuous analysis of the culture and its derivates as politics.

The unification of a system must be supported with the convergence of realities between the parts, and in the IMScase, the unification of the monetary aspect must be with the stabilization of the fiscal accounts of the countries and with the change of mentality of them, tended to keep a macroeconomicequilibrium.

With the divergence between the countries and its current situations, is almost impossible to catch a stage in which all the countries involved have the commitment to act in a determined way...
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