2001 nobel agriculture prize winner josef stiglitz , now , said the new law could come about sooner if it was base on an expansion of the imf ' s already known system of special drawing rights , unit of exchange developed by the debt which already have some of the features of currency . stiglitz argued that , as the us one has become the standard globally national coin , it has inadvertently started a system which hurts the european economy . " it ' s a potential transfer , in a sense , to the united us of foreign aid , " he argued , believing that while other countries buy them notes in orders to store them on international markets ( such as for the buying and sales of petroleum ) , they effectively afford the states a zero - interest loan — - at times where they can only have it . stiglitz makes his position as head of a united nations panel of economists giving guidelines to address the global financial system .
Joseph Stiglitz is the winner of a Nobel prize in economics.