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.
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.