Lula's advisors insist on unified currency for Latin America

Tuesday, May 3rd 2022 - 14:54 UTC

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Former Brazilian President Luiz Inácio Lula Da Silva and his economic team would push for a unified regional currency like the Euro to end South America's inclination to the US dollar should he win the Oct. 2 elections over the incumbent Jair Bolsonaro, it was reported Monday. Read full article

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FortHay
The dollar trades at about 5 : 1 against the real. I am paying a skilled mason + handyman Br$160 per day to renovate my garage and they work very well. At a daily rate of US$32 I get a great deal, but the two workers also earn a competitive wage in a region ( Nordeste ) where unemployment runs to 16%. If the monetary system is destroyed, I will cancel or postpone future projects. The two guys will request unemployment assistance from tax funded social services until it runs out, increasing inflation and further degrading the native currency. On the ground level these geopolitical schemes have real human costs.
May 04th, 2022 - 11:43 am - Link - Report abuse 0
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MarkWhelan
Bad move. All it would need is for one country to default ant all of South America would fail financially.
May 04th, 2022 - 12:44 pm - Link - Report abuse 0
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