Brazil’s president has proposed the creation of a regional trade currency to rival the U.S. dollar as he hosts a regional summit.
has proposed restarting the bloc now that the region has a greater number of leftist and centrist leaders. He called a South America Summit in Brasilia that has drawn all but one of the region’s presidents.Market analysts are reacting with deep skepticism to a proposal floated by the leaders of Brazil and Argentina to launch a common currency.
Lula, a former trade unionist who took office in January, welcomed Maduro in their first bilateral meeting Monday ahead of the summit. He criticized the economic sanctions that countries such as the U.S. have imposed to get Venezuela to liberalize its politics, calling them “completely exaggerated.” Pablo Ibañez, who teaches geopolitics at the Federal Rural University of Rio de Janeiro, said it was urgent for Lula to mend ties with Venezuela in part because of their shared border and the need to deal with migrants and refugees from Venezuela.
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South American presidents led by Lula seek new shared agendaSouth American presidents are gathering in Brasilia on Tuesday for their first summit in almost a decade at the invitation of Brazil's leftist leader Luiz Inacio Lula da Silva, who aims to regain his country's active role in regional affairs.
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Lula calls for South American integration at Brasilia summitBrazilian President Luiz Inacio Lula da Silva on Tuesday called for increased economic, cultural and social integration of South American countries as he opened a summit with a dozen leaders of the region in Brasilia.
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Lula urges greater South American integration at Brasilia summitBrazilian President Luiz Inacio Lula da Silva calls for increased economic, cultural and social integration of South American countries as he opens a summit with a dozen leaders of the region in Brasilia
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