Colombia – under its first-ever leftist president, ex-guerrilla member Gustavo Petro – revived a longtime far-left hope of creating a unified South American currency to defy the U.S. dollar.
Gabriel Boric, Chile’s president, left, and Gustavo Petro, Colombia’s president, hold a joint press conference at the Presidential Palace in Bogota, Colombia, on Monday, Aug. 8, 2022. Petro began his four year term Monday by holding meetings with Chile’s Boric and with representatives of Mexico, Cuba and the United States. Photographer: Nathalia Angarita/Bloomberg
“In the European case, if I recall correctly, they did away with coal and steel economic unity in 1951 and they established a unified currency in 2002,” Boric said. “So these are long-term processes and we have lot of progress to make beforehand.”sayingIn neighboring Brazil, South America’s largest economy, current presidential frontrunner Lula da Silva proposed the creation of a unified currency for the continent called the “sur” in remarks in May.
Fernando Haddad, the socialist Workers’ Party candidate that lost to Bolsonaro after replacing Lula in the 2018 presidential election, wrote a column shortly before Lula’s pronouncement on the “sur” in the left-wingnewspaper arguing that sanctions on Russia proved the need for a South American currency.
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