Brazil and Argentina float the idea of a regional currency

The presidents of Brazil and Argentina are considering creating a common Latin American currency. Presidents Lula Ignacio de Silva of Brazil and Alberto Fernandez of Argentina announced the discussions at the Community of Latin American and Caribbean States (CELAC) conference this week in Buenos Aires, reviving a perennial proposal to challenge the US dollar's dominance in the region. Advertisement In an article published in Perfil, an Argentinian newspaper, presidents Lula and Fernandez wrote their countries are exploring options to create a common currency called the sur (south in Spanish), meant to encourage financial and commercial transactions between the countries. Argentina…