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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: RJA_ who wrote (35720)	6/13/2008 11:04:18 AM
From: elmatador	Respond to of 217549

Ruble could be regional reserve currency within 5 years - Kudrin 18:30 \| 13/ 06/ 2008 OSAKA, June 13 (RIA Novosti) - The Russian ruble could become a regional reserve currency within the next five years, Finance Minister Alexei Kudrin said on Friday. Speaking to reporters in Osaka on the sidelines of a Group of Eight finance ministers' meeting, Kudrin said the Russian national currency has already begun to play the role of a reserve currency in certain states. President Dmitry Medvedev said last week that turning Moscow into a global financial center and the Russian ruble into a leading regional reserve currency are key to building a competitive financial system in Russia. The finance ministers' meeting is part of preparations

To: RJA_ who wrote (35720)	6/13/2008 11:09:32 AM
From: elmatador	Read Replies (1) \| Respond to of 217549

South America eyes creating a common currency and a central bank along the lines of those in the European Union's euro-zone, Brazilian President Luiz Inacio Lula da Silva said Monday. South America eyes common currency 05.26.08, 2:59 PM ET BRASILIA (Thomson Financial) - South America is thinking of creating a common currency and a central bank along the lines of those in the European Union's euro-zone, Brazilian President Luiz Inacio Lula da Silva said Monday. The idea is a logical next step following the signing last Friday of a teaty creating a Union of South American States that aims to promote joint regional customs and defense policies, Lula said during his weekly radio broadcast. 'Many things still haven't been realized. We are now going to create a Bank of South America. We are going to move forward so in the future we'll have a single central bank, a common currency,' he said. But, he added: 'This is a process. It won't be something that happens quickly.' Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay and Venezuela all signed up to the UNASUR treaty creating the regional union during a ceremony in Brasilia last Friday. The entity's goal is to bring together two trade blocs within South America, Mercosur and the Andean Community, and to integrate the region. Brazil is also pushing for a regional defense council that could be used as a forum to settle inter-regional disputes as well as formulate joint policies. Lula said the creation of UNASUR was 'the realization of a dream,' and evidence of remarkable economic and political progress South American nations have made in recent decades. Brazil, Latin America's biggest economy, has taken the lead in the new entity. But Colombia, the strongest U.S. ally in South America and a country often at odds with neighboring Venezuela and Ecuador, has decided not to join. Lula stated that 'nobody can think of this as a crisis' in the nascent bloc, noting that several EU nations also opted out from aspects of European integration such as adopting the euro.