In these testing times, a bit of out-of-the box thinking is to be applauded. So Russian presidential hopeful Mikhail Prokhorov deserves a standing ovation. Friday, his election program included a call for the creation of a single global currency. He isn’t joking; he has said this before. He wants it to be based on the euro and the ruble. Now, few can doubt that lower currency volatility would be a good thing. Imagine: you could sell goods and services abroad, and go on holiday, without having to worry about exchange rates. But it might be worth remembering one of the key reasons for current volatility in ... (full story)