Will different money currencies disappear in the future?

8. Read the text once. What are the two current trends on the money market? Then correct the six grammar mistakes with the verbs (wrong tense or wrong form).

The amount of coins and banknotes in circulation, plus rе­serves held in the central bank from commercial banks, is know as the monetary base. In the past, many currencies were pegged to a defined amount of a physical commodity such as gold. In the USA, а bank must to have reserves equivalent to ten реr cent of the money it lends, ¹____in many countries there are no minimum amount. This system works only as long as people trust it, ²_____no bank could cover demands on its reserves if everyone wanted their money at the same time.

What will happen in the future? А current trend is the disappearance of different currencies. This development сan be illustrated ³_____the introduction of the euro in 2002, ⁴_____12 currencies converged into one. As other countries join the eurozone, their currencies to disappear, too. At some point, there may be only four or five world currencies in use.

Another trend see coins and banknotes becoming unne­cessary; we increasingly_, carry and transfer our wealth with credit cards, smart cards or mobile phones. These tools al­low us to make transactions ⁵_____the use of cash, but the disadvantage is that sellers and governments can to track these payments. ⁶_____we make digital cash transactions anonymous, we risk trading an increase in convenience for а loss of privacy about how we spend our money.

9. Read the text again and complete with a connecting word.