CNN — Brazilian President Luiz Inácio Lula da Silva proposed creating a common currency in the region during a meeting with South American heads of state in Brasilia on Tuesday. The single currency would apply to the Mercosur trade bloc, comprised of Argentina, Brazil, Paraguay, and Uruguay, in Lula’s vision. Talk of creating a common currency there has periodically cropped up since its founding in 1991. In his opening address, Lula proposed to “strengthen the South American identity in monetary policy, through better compensation mechanisms and the creation of a shared unit of transaction for trading,” rather than relying on extra-regional currencies. Lula also argued that regional devel
Hence then, the article about brazil s lula proposes common south american currency was published today ( ) and is available onEGYPT INDEPENDENT ( Egypt ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Brazil’s Lula proposes common South American currency )