BRICS - Is A Common Currency Such A Good Idea?

... only appropriate. The Eurozone. According to the classifications a monetary and fiscal union is the last stage before complete economic integration - which inevitably implies the total harmonisation of the economic, monetary, fiscal and trade policy of ... ... fiscal framework of all the member states. Furthermore it means that the respective countries can no longer use their isolated monetary policy to increase their competitiveness. This may pose a challenge for the BRICS who pride themselves on their competitive ...