Correa pushes for single South American currency as new UNASUR headquarters are inaugurated north of Quito

Dec 6, 2014

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Rafael Correa with Brazilian President Dilma Rousseff in Quito.

Speaking at the inauguration of the new South American Nations Union (UNASUR) headquarters in Quito, President Rafael Correa again pushed for the establishment of a common currency. Correa has voiced support for a new currency since he took office seven years ago.

With the leaders of South American countries in attendance, Correa said that a single currency would strengthen the region’s political and trading clout.

“Together, the 500 million citizens of the continent will have a strong position in international trade and arbitration and we can control our own destiny,” he said.

He said that a united region will provide protection from the political and economic interests of the U.S., Europe and other world powers.

“A Gran Patria (United Latin America) is not a dream anymore, but the logical way to reach our independence,” said Correa. He added that the current trend toward globalization is orchestrated by powerful countries and business interests at the expense of much of the world’s population. “We must oppose the neo-colonialism tendencies, especially those of the United States

Other South American leaders seconded Correa’s position although none addressed the issue of a regional currency.

Dilma Rousseff, president of Brazil, said that South American governments should work together to develop the region’s human talent. “We must support what is ours, and stay away from what is foreign,” she said.

The new UNASUR headquarters is named after former Argentine President Nestor Kirchner.

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