MercoPress. South Atlantic News Agency

South America News.

US, Argentina's "main ally"

Argentine president Eduardo Duhalde said the United States is the main ally to overcome the country's current financial and social situation. Mr. Duhalde, who had a long phone conversation with US president George Bush last week, pointed out that US is the country which most can influence multilateral organizations to aid Argentina. "It was a very good conversation", said president Duhalde adding that "United States is the undisputed leader at international level and the country with the greatest influence over the financial institutions that can help us out". However Mr. Duhalde was quick in pointing out that the "main ally" condition of the United States doesn't mean leaving aside Mercosur partners and the European Union. "Brazil is our main trade partner, so we are also committed to Mercosur and the European Union with whom we have a strong relation", indicated the Argentine president. Mr. Duhalde also revealed he was pleased with the current US attitude, because when taking office in at the beginning of January, and emphasising in the need "to protect" local industry and labour, "I was taken and even labelled, as a protectionist in the old closed economy style". "I'm a firm believer of the modern economy, and I've always pushed for Argentina to join the global integration process. No one in his senses can propose returning to the", old protectionism", stressed president Duhalde. The Argentine president also revealed that he's in regular contact with other American presidents such as Vicente Fox from Mexico, Fernando Cardoso, Brazil and Ricardo Lagos from Chile.

Talks on a common currency

Mercosur full members will begin discussing next February in Montevideo, Uruguay the creation of a common currency for the trade block. The announcement was made by Argentina's Foreign Affairs Minister, Carlos Ruckauf who nevertheless anticipated it will be a long and by no means a simple process, "but we need a common currency and we must help with the creation of mechanisms that improve the customs union". Mercosur's integration process, which had a spectacular launching in the early nineties almost run aground in the last few years because