UNASUR: The Economy Ministers met to face the crisis united

 

August 12, 2011

 

The Economy Ministers of the countries of the Union of South American Nations (UNASUR, for its acronym in Spanish) met today to reach agreements on measures to face the global crisis.

One of the measures they were analyzing was the creation of a regional reserve fund, a hard job due to the political and economical complications that this implies for Argentina and Brazil.

There would be agreements on the design of policies against the speculative funds in order to prevent currency appreciation.

Another advance would be that transactions would no longer be made in dollars but in local currency.