Argentina has formally announced it won't join the BRICS bloc of developing economies. Friday's announcement is just the latest in a dramatic shift in economic policy triggered by Argentina’s new far-right President Javier Milei.
Because the governments would no longer be able to fake the exchange rate, and their socialist policies would’ve been reveald as a scams they are, without the keys to the money printer.
Also, who would be in charge of the monetary union? A bunch of countries that couldn’t even managed their own monetary systems?
Going with an existing foreign currency as a base is probably better until the situation stabilizes a bit.
Why doesn’t south America agree on a single currency like the Euro?
The Peso. The Sol. The Amero.
Because the governments would no longer be able to fake the exchange rate, and their socialist policies would’ve been reveald as a scams they are, without the keys to the money printer.
Also, who would be in charge of the monetary union? A bunch of countries that couldn’t even managed their own monetary systems?
Going with an existing foreign currency as a base is probably better until the situation stabilizes a bit.