Brazil's Lula backs a common currency for trade between Mercosur countries

<ul><li>There is room for Mercosur to increase trade with Chile, Colombia, Ecuador and Peru</li><li>Committed to completing EU trade deal, but some proposals by EU are 'unacceptable'</li><li>In advance talks for deals with Canada, South Korea and Singapore</li></ul><p>A common currency is an interesting idea but I can't imagine how Argentina would make it work with its extreme debt burden and serial defaults.</p>

This article was written by Adam Button at www.forexlive.com.