r/asklatinamerica • u/Tiny-Support-4244 • 3d ago
Latin American Politics Latin common coin
If Latin America and the Caribbean had an economic, political, and housing union modeled after the European Union and a common currency what would be the ideal name for that currency?
Si América Latina y el Caribe tuvieran una unión económica, política y habitacional siguiendo el modelo de la Unión Europea, y contaran con una moneda común, ¿cuál sería el nombre ideal para dicha moneda?
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u/Silent-Nerve-5900 El Salvador 3d ago
Solo funcionaría si hubiese una política fiscal única para todos los países... Además de un banco central que no dejara que los políticos impriman dinero a lo bestia... Ni que estén comprando bonos soberanos por cualquier revés financiero.
De nombre le pondría Peso Universal, así significa lo mismo en español y portugués.
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u/shiba_snorter Chile 3d ago
Peso real, combines both worlds. But the most ideal would be that this coin never exists.
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u/Maite25 Chile 3d ago edited 3d ago
It depends on which countries are included: if it were limited to the Andean region, I'd name it Cóndor; if it were a Southern Cone union, Australes; and if it encompassed all of Spanish-speaking América, it should definitely be the Peso. If it includes Brasil, then it should be called Peso Real, Nuevo Peso Real or something along those lines.
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u/obssesedparanoid Chile 3d ago
argentina or venezuela managing our currency? no fuck thanks
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u/--Queso-- Argentina 3d ago
Would 100% be Brasil or Mexico, they're the Big Boys. If anybody has to have complete control Over it, that is
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u/Sahaquiel9102 🇨🇴 in 🇲🇽 2d ago
Actually none of them would manage the currency. A monetary union demands the creation of an autonomous independent supranational organism.
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u/--Queso-- Argentina 2d ago
That's why I said "If anybody has to have complete control over it, that is". The only case that I can think of in which and international organization may not be made is unification through annexation.
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u/pirata-alma-negra 🇧🇷 Rio de Janeiro 1d ago
if it's well done with good laws and regulations it would be great
unfortunately that's only a dream right now
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u/coldxound Honduras 3d ago edited 3d ago
I would probably vote for "real" or something like that. Fits nicely for both Spanish and Portuguese speaker, and would borrow its name from the biggest economic force in the region. Peso or something like that would be far too generic.
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u/Aronosfky Colombia 3d ago
There's just a big, giant, vast jungle in the middle of Latin America that will never make this feasible.
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u/ChristiansAttack Colombia 2d ago
It's a bad idea to have a single coin without a united government. It would create the problems the EU member states have now. It's unsustainable unless a single gov is created.
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u/Haysalesman France 2d ago
Its certainly increasing structural inequalities between member states and not enough is being done to redress the problems.
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u/Carolina__034j Buenos Aires, Argentina 3d ago
I'd call it capybara/carpincho/chigüire and the symbol would be the letter C with two stripes, like this: €
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u/Icy-Assistance252 Québec 3d ago
I feel like this symbol already exists
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u/KausAustral Cartagena de Indias - 3d ago
Yeah no... At least not now. Far too complicated politics and economics
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u/MrBrightside721 Mexico 3d ago
No...
There is no way I want Argentinians or Venezuelans to touch the monetary system of my currency.
If Mexico, Chile, and Peru doesnt control 100% the monetary system. I am not interested.
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u/BufferUnderpants Chile 3d ago
It should be called the Bolivar because there's no sense in beating around the bush, we know how it's going to turn out
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u/Ninja_Boemio Brazil 2d ago
I haven't been hit in the head enough to make this looks like a good idea. Brazil fought like hell against inflation pre-real era, with the difference in foreign exchange reserves Brazil have in comparison to the others. Don't get me wrong, I think we need better integration and cultural and economic exchange, but not by this way
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u/Other_Yama1993 United States of America 3d ago
you don't want, you want to create trade agreements across LATAM but you want each country to have their own coin, so they can use their own central bank to control inflation lest you end up with the EU and you can have multiple points of failures from even its strongest countries.
you would have to follow MMT theory for that though.
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u/YaBastaaa 🇺🇸🇬🇹 + 🇪🇸 2d ago
Latin American also needs a mighty military perhaps like NATO or better. I don’t know how is that going happen? That needs to be established before establishing a currency.
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u/RdmdAnimation Venezuela/Spain 2d ago
chavez and company made something similiar with a currency called "SUCRE" that was made to replace the dollar
https://en.wikipedia.org/wiki/SUCRE
anytime now...
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u/ImpossibleDirt7592 Chile 1d ago
It would be the us dollar otherwise fuck no, imagine Argentina, Venezuela, Peru, Bolivia ssuing contintent money. That's a disaster incoming.
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u/Mr_MordenX Chile 1d ago
Américo, Bolívar, American Dollar, Panamerican Peso I don't give to shits about the name, make it a reality.
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u/santiagobustelo Argentina 3d ago
For a South America coin, Austral rolls nicely off
The tongue.
Those who survived the 1989 hyperinflation would be mildly triggered, though
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u/Vivid_Nail8691 Colombia 3d ago
I actually once met the president of the ECB, Lagarde, in the Panama airport and asked her her thoughts about this and she told me it was a terrible idea haha
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u/Agramaic Colombia 3d ago
Con la subida de la derecha en todo el continente pronto nos vamos a dolarizar.
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u/Sahaquiel9102 🇨🇴 in 🇲🇽 2d ago
No veo una sola unión monetaria ahí. El Caribe por si solo ya es complicado, esa sería una.
Sudamérica sin Ecuador (porque se dolarizó) y Venezuela (porque está de facto dolarizado).
Centroamérica sin El Salvador y Panamá (dolarizados). Nadie vuelve del dólar.
Y México. Quizá con Sudamérica pero no lo veo.
El problema es que Latam apenas comercia entre sí. Tiene poco sentido una unión monetaria. Me encantaría, pero no lo veo fácil.
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u/hcmzero Dominican Republic 3d ago edited 2d ago
Peso Nuevo, currency code PENE.
EDIT: The advantage of this code is that no politician would like to see a headline with his name and “PENE DOWN”. Unless we elect a woman…