That’s an odd way for the article to spell “Turkish pre-election grandstanding”
this guy…
Latin tour.
An AU to match the EU would be interesting, but clearly not all of the other countries in SA are ready for it.
Specially Argentina. Their economy is in a mess. OUr economy isn’t great, but It is stronger than the rest of South America. Probably this initiative will fail.
I saw something about that, but don’t know enough about it to really understand. Are Brazil and Argentina trying for a south American EU sort of thing? Social democracy with loose borders and a single currency?
That could be great, or awful, depending on how it goes. It’d certainly put the shits up north America, probably Russia too, and really piss off various TLAs who like to interfere in Latin America, which makes me want to be in favour of it.
“Some LGBT fans have questioned the US singer’s decision to perform in the United Arab Emirates.”
Ummm money? Artist gonna get mo rich somehow.
And she could easily have made just as much money playing elsewhere for someone else, rather than a country with retrograde gay rights laws that uses slave labor regularly. It’s a question worth asking, actually. She did not need this gig to become wealth, as the Knowles-Carters already are incredibly wealthy.
At first, the articles published in the press, especially in economic/conservative newspapers and magazines, made us believe that it would be a single currency divided between the two countries, which would give up their monetary sovereignty a la European Union.
Needless to say, this was like pouring gasoline on the fire of reactionary minds, who blame the Stalinist President of Brazil and the Maoist President of Argentina for everything bad that has happened on the continent since the 1500s.
Gradually new articles appeared, detailing the plans, making this obscure economic idea a little clearer.
Yes, it would be a single, but virtual, currency to be used in regional trade, in order to reduce bureaucracy and dependence on the Dollar in the region. The Argentine economy has been pegged to the Dollar since the 1980’s and they’ve been facing crisis after crisis ever since (not only because of that, it seems like they haven’t had peace of mind since the 1950’s). Both countries would keep their original currencies and autonomies.
The outcry of reactionaries in Brazil against this hypothetical single currency is quite loud. But they fall silent when reminded that this idea was proposed years ago by Mr. Bolsonaro. Mr. Paulo Guedes, the former ministry of economy, said that this would be a good idea for both countries then. Because of the ideology that was in vogue, the idea did not gain traction. But even Mr. Bolsonaro was a great fan of this plan.
From a Modern Monetary Theory point of view, the Euro is a terrible idea. A currency union without a monetary union - each member state gave up the ability to spend its own currency into existence and instead relies on the central bank.
Whether or not you like the MMT model, there’s been times since Euro where Germany/France clearly wished they weren’t in the same currency as Greece. The Greek Lira would have been massively devalued, but instead DE/FR had to intervene in Greek domestic tax & spending policy to avoid the Euro being devalued.
Thanks, I was thinking that US empire powers that be must be warming up assassination squads again over this, but your comments make it seem like the mutual money plan may never happen for “local” reasons.
Those of us from blue states are thinking: yup, I recognize that problem well.
