Brazil, Argentina mulls to issue single currency
Brazil and Argentina plan to announce preparations for issuing a common currency in the near future, in a move which could eventually create the world’s second-largest currency bloc, Brazilian President and Argentine leader said in a joint article they penned.
Argentina’s economy minister, Sergio Massa said “there will be… a decision to start studying the parameters needed for a common currency,” adding that other Latin American countries will be invited to join this initiative.
“Together with our partners, we want Mercosur to constitute a platform for our effective integration into the world, through the joint negotiation of balanced trade agreements that respond to our strategic development objectives,” both presidents said.
The official announcement of these plans is expected to take place during the visit of the Brazilian President, Lula da Silva to Argentina; scheduled to start on Sunday.
The two sides have discussed a common currency in the past few years, but talks foundered on the opposition of Brazil’s central bank to the idea, one official close to the discussions said.
