Unconquered Peaks

Common Currencies have always provoked debate and discussion between leaders of nations, who want to promote greater co-operation whilst also defending their own economic interests. After the Euro was made the official currency for twelve EU countries in 1999 (and now twenty), efficiency and economic stability increased within the eurozone, demonstrating its success and influencing the global economy. Not only does the single currency highlight European identity, but investment in the eurozone became cheaper with a lower risk and greater confidence, promoting trade alongside business. Therefore, keeping all these benefits in mind, Brazil and Argentina have recently proposed a new common currency for their nations; one which would ultimately become the second largest currency bloc after the Euro. However, the two left-wing presidents’ idea has created economic concerns over whether the “Sur” (the proposed common currency) will actually be as beneficial as they intend it to be.