A common currency between the pair seems very unlikely, but the read here is interesting on why its being at least floated as an idea:
- Brazil’s President Luiz Inacio “Lula” da Silva and Argentina’s President Alberto Fernández ... said they had “decided to move forward with discussions about a common South American currency that could be used for financial and commercial flows ...”
- Brazil’s finance minister, Fernando Haddad ... stressed that Argentina’s shortfall of US dollars was weighing on trade between the two countries and that government leaders were exploring possible solutions
- Hasnain Malik, head of equity research at Tellimer, said in a research note ... “Brazil and Argentina are a long way away from the convergence in economic policy and performance required to launch [a] monetary union”
Info via CNN, link above, worth a read if you are interested.
What would you call such a common currency between the two. Some combination of Pele and Messi? The Pessi? The Mele? I'm sure ForexLive folks can do better in the comments ....
