Say everyone in an unstable economy were paid in usd. If that country has foreign deficit, if that country has high government debt. What happens? How can the government keep paying its own employees? How does it pay retiree checks? How does it subsidize farming when needed? As long as a country cannot print usd itself, this is a fast shortcut to unemployment, hunger, etc...
Strong currencies are not the solution to poor governance. Good governance and democracy makes a country and its currency strong. Not vice versa.
Strong currencies are not the solution to poor governance. Good governance and democracy makes a country and its currency strong. Not vice versa.