On January 1,1999, the world witnessed a change never seen before: eleven nations of the European Union fixed their currencies to each other and established the world's first common currency, the Euro. The creation of a single European currency will be the most important development in the int...

X-tra Credit Comment: Are the prototypes irrelevant? History is always important regardless of its contemporary applications because history teaches us about the potential of human behavior. The lessons learned from a failed institution give us insight into the trials and tribulations of man; i...