BRICS - Is A Common Currency Such A Good Idea?

... the dependency on Western financial centers and the US dollar as the main international transaction and reserve currency”. To put things into perspective a comparison with the most widely discussed monetary union would seem 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 all of the member states....