The American Empire in a Changing World


Wednesday, November 14, 2012

''BRICS political currency fund''

From Voice of Russia

''The BRICS countries are due to establish a joint currency fund. A formal decision has been made because this reserve is necessary in case of another economic crisis.''

''Now Brazil, Russia, India, China and South Africa are discussing concrete parameters and conditions of accumulating currency reserves. The size of the fund has also been determined. It is to be $240bln. However, the establishment of the mechanism of mutual lending has an important political aspect as well, say experts interviewed by The Voice of Russia.''

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