September 3, 2006

Common Currency

Here in South America we are always paying attention to the development of Mercosur--kind of a Latin American version of the European Union. This interesting item was in my news folder today:

Economy - Dominican Today

SAO PAULO.- Brazil and Argentina have taken this week the first effective step since the foundation of Mercosur in 1991, towards the creation of a common currency, they have decided to elaborate a project aimed at not using the US dollar as a bilateral interchange currency.

The thought of Argentina and Brazil sharing a currency seems strange at this point. There is no love lost between the two countries. But, stranger things have happened. Who in 1940 would have ever suspected that within sixty years France and Germany would share a currency?

Posted by Andrew on September 3, 2006 11:08 AM.