Brazil decides full support for the (development) Bank of the South

Thursday, December 15th 2011 - 15:37 UTC

Full article 5 comments

The administration of President Dilma Rousseff will be sending the bill creating the Bank of the South to congress next month, since this financial institution “will help the region address the global crisis”. Read full article

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xbarilox
No UK, sorry.
Dec 16th, 2011 - 12:30 am - Link - Report abuse 0
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Fido Dido
No UK, sorry.

They are broke, though they keep on printing funny money what isn't worth the paper they print on.
Dec 16th, 2011 - 05:47 am - Link - Report abuse 0
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yankeeboy
When this was first conceived Arg had some reserves to capitalize it now they don't. The reserves are getting very low and soon won't be able to support their currency. They spent U$200M YESTERDAY supporting the peso! That can't go on for too much longer.
2. I don't think you follow the currency market, the Pound has been steady to up for a long time right around 1.55/U$ and it's way up against the Euro. Are you just trash talking or you are just un-informed?
It is going to take this bank a long time to get to where it can actually start to lend. Who is going to buy the bonds? There is no record and it will be weighed down by the defaulted and poor pay creditors like Arg, Ecuador and Bolivia. I wonder if they will they denominate those bonds in U$ subject to our laws etc?
Dec 16th, 2011 - 02:58 pm - Link - Report abuse 0
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geo
not clear that this bank will be used for ...!!
Dec 16th, 2011 - 09:24 pm - Link - Report abuse 0
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ChrisR
As long as no one from Argentina is allowed anywhere near the management of this 'bank' and the money or it will all suddenly 'disappear'.
Dec 18th, 2011 - 11:53 am - Link - Report abuse 0
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