Latin America Leftists Renew Push for Shared Currency, but Its Chances Are Slim
Latin America Leftists Renew Push for Shared Currency, but Its Chances Are Slim
"Regional success and integration could offer the (leaders) an accomplishment they can champion," said AS/COA's Cecilia Tornaghi to Axios Latino.
With more leftists coming to power across Latin America, the idea of a single shared currency is a hot topic again.
It has been leftist politicians in particular, Brazilian President-elect Luiz Inácio Lula da Silva among them, who have championed a single currency as necessary to reduce dependency on the dollar, but the idea is likely to face many challenges, analysts say.
Still, other areas of regional cooperation on critical economic, migration and environmental issues may be a reality soon. […]
Cecilia Tornaghi, senior director for policy at The Americas Society/Council of the Americas, said most of the leaders’ emphasis on environmental conservation could spawn regional initiatives ripe for U.S. cooperation.
Between the lines: Rising inflation and ongoing pandemic-related economic troubles could get in the way of regional integration.
"But, at the same time, having regional success and integration could offer the (leaders) an accomplishment they can champion as contrast to domestic crises," Tornaghi says. […]
