President Lula during a meeting with the President of Argentina, Alberto Fernández| Photo: Ricardo Stuckert/Palácio do Planalto

The president of Brazil, Luiz Inácio Lula da Silva (PT), publicly defended the debate with Argentina in order to create a common currency between the two countries. The PT’s declaration took place this Monday (23), after a meeting with the Argentine president, Alberto Fernández.

“We are trying to work now so that our finance ministers can make a proposal for foreign trade and transactions between the two countries and that it be made in a common currency, built with many debates and discussions”, said Lula.

According to the Brazilian president, the common currency between the two countries would be a way of facilitating trade between Brazil and Argentina. “If it were up to me, we would always have foreign trade in the currency of other countries, so that we would not depend on the dollar. Why not create a common currency among the countries of America? I believe that with time this will happen”, added the PT .

Still according to Lula, the common currency needs to be tested and debated between the two governments. “In the middle of the 21st century, we cannot do the same as we did in the 20th century. I hope that our ministers have the intelligence, competence and wisdom necessary for us to make a leap forward in our trade relations”, concluded Lua.

On the other hand, the president of Argentina, Alberto Fernández, stated that he still does not know how the model would work. “We don’t know how a common currency would work, nor do we know how it would work in the region. But we know what happens to the economies of small countries when faced with the need to operate with foreign currencies,” he admitted.