Brazil and Argentina to begin preparations for common currency
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Re: Brazil and Argentina to begin preparations for common currency
#2Re: Brazil and Argentina to begin preparations for common currency
#3I'm Brazilian and I can only say NOOOO! This is the worst idea and will be used to fund the socialist regimes os South America, most of them real or de facto dictatorships.
This idea doesn't have population support and it marks the end of Brazil's economy.
Re: Brazil and Argentina to begin preparations for common currency
#4> The initial focus will be on how a new currency, which Brazil suggests calling the “sur” (south), could boost regional trade and reduce reliance on the US dollar, officials told the Financial Times. It would at first run in parallel with the Brazilian real and Argentine peso.
That last part is pretty important. Both countries have a history of severe inflation. Circulating a new currency alongside the old seems like a pretty baldfaced attempt at inflation without having to admit it. It beggars belief that either country would retire its national currency given the deflationary shock that would create.
Re: Brazil and Argentina to begin preparations for common currency
#5Did the governments bother trying and evaluate the popular support for such idea? Or is yet another top-bottom thing like CBDC?
On a lighter note even if there is agreement the first problem will arise when deciding who gets on the bill, Pele or Maradona /s
Currencies are inherently a thing of countries , not sovra-national entities. The Euro has been a failure for everybody except Germany
Re: Brazil and Argentina to begin preparations for common currency
#6Sure they will.
Wasn't this supposed to include one of the "guay" countries as well?
Re: Brazil and Argentina to begin preparations for common currency
#7Sure they will. Wasn't this supposed to include one of the "guay" countries as well?
"guay" means "cool" in Spanish so my mind did the trick and imagine my confusion when reading this "wasn't supposed to include one of the cool countries as well"
https://web.archive.org/web/20221221191002/https://www.thelo...
Re: Brazil and Argentina to begin preparations for common currency
#8What sort of madness would lead anyone to want to share a currency with Argentina of all places? No offense intended, but it’s one of the most aggressively mismanaged economies in South America. (Venezuela obviously is the winner in that category.)
Re: Brazil and Argentina to begin preparations for common currency
#9It is important to note that Brazilian economy's minister said there is no plan to implement a common currency[0].
This declaration came after Argentinian ambassor said, in a visit to Brazil, that there were plans to create it.
It seems to me that this is something that Argentina wants, while Brazil has no practical interest in it.
Worth mentioning that Argentina is a country that is dealing with deep financial crisis and heavy inflation and a common currency could help to reduce inflation. Brazil had similar problems through the 80's and 90's.
[0] - portuguese: https://www.cnnbrasil.com.br/business/nao-existe-proposta-de...
Re: Brazil and Argentina to begin preparations for common currency
#10I'm Brazilian and I can only say NOOOO! This is the worst idea and will be used to fund the socialist regimes os South America, most of them real or de facto dictatorships. This idea doesn't have population support and it marks the end of Brazil's economy.
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