ALBA to Study Common
Currency
Caracas - Experts from
the Bolivarian
Alternative for the
Peoples of Our America
(ALBA) will meet on
January 8 in Caracas to
analyze a proposal for a
common currency,
Venezuelan Finance
Minister Ali Rodriguez
informed.
The minister said that
after the first
exchanges, the experts
consider the dollar an
element of the world
crisis, which underlines
the need for a common
currency.
Interviewed by the local
Vive-TV channel,
Rodriguez explained
currency is a means of
exchange, but when it is
not represented by real
values, it drops.
Considering the current
world crisis, he added,
different regions are
seeking formulas to
replace the dollar as
unit of reference for
world trade.
The Venezuelan minister
believes that entails
the creation of a
universal currency and a
World Central Bank to
end with the one-country
factor and boost the
value of currencies in
the rest of the world.
ALBA, made up of
Bolivia, Dominica,
Honduras, Cuba,
Nicaragua, and
Venezuela, takes those
processes into
consideration, and
assumes the need to have
a currency that
facilitates exchange in
Latin America. |
