Lula says that negotiating outside the dollar is possible and necessary
President Luiz Inácio Lula da Silva (PT) stated that he intends to encourage Brics members to negotiate with other currencies, in addition to the dollar. According to the leftist leader, the idea needs to be tested so as not to 'depend' on the American currency. "We cannot depend on the dollar, which is the currency of a single country that has been assumed as the currency of the world.
We have the right to negotiate, so why can't I negotiate with China using Chinese and Brazilian currencies?" he said this Tuesday (12), in an interview with BandNews FM radio. "We don't want to deal in dollars; it is an important currency, the U.S. has the machinery that drives this currency.
But we can discuss within the Brics the need for a trade currency among us in the Brics. I do not refuse this idea because I need to test it. I need someone to convince me that I am wrong." In update
Source: CNN Brazil
"In other words, Lula wants to 'test' a new currency for international trade as one tests a cake recipe — without a recipe, without an oven, but with plenty of faith that it will work out. After all, if it goes wrong, there is no problem: the loss is not his, it is Brazil's."
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