Brazil’s Bolsonaro doubles down on monetary union with Argentina

longknife

Diamond Member
Sep 21, 2012
42,221
13,088
2,250
Sin City
2019-06-07T154438Z_1_LYNXNPEF561A9_RTROPTP_0_BRAZIL-POLITICS_1.jpg


The start of a SAU? South American Union. The two countries link up their money and then break down border barriers to include free trade.

They’re already part of Mercosur, or Mercosul, officially Southern Common Market, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994. Its full members are Argentina, Brazil, Paraguay and Uruguay. Venezuela is a full member but has been suspended since December 1, 2016. Wikipedia

As is natural in a relationship between partners, there is dialogue on macroeconomic stability as well as discussions about reducing risk and vulnerability, and the strengthening of our institutions.”

A spokesperson for Argentina’s Ministry of Finance said on Thursday that the two governments were negotiating the creation of a joint currency that could be called the “real peso,” combining the names of Argentina’s peso and Brazil’s real.

We are working on that in the medium to long term,” the spokesperson told Reuters, during a visit to Buenos Aires by Bolsonaro and Brazil Economy Minister Paulo Guedes.

According to Brazilian newspaper O Globo, Bolsonaro and Guedes told Argentinian and Brazilian business leaders at a meeting in Buenos Aires that they would like to explore the idea.

Another case of a non-politician looking for unusual way to improve things for his country.


More @ Brazil’s Bolsonaro doubles down on monetary union with Argentina | One America News Network
 

Forum List

Back
Top