Venezuela abandoning the bolivar and adopting the U.S. dollar would be the biggest currency switch since the advent of the euro, Hanke says

Steve Hanke advises Venezuela that fully adopting the U.S. dollar is necessary to combat 400% inflation, requiring the abandonment of bolivars and the central bank. He estimates this would be the biggest currency switch since the introduction of the euro in 1999. The article notes that due to the collapsing bolivar, the U.S. dollar is already integrated into Venezuela's economy through 'spontaneous dollarization.'