No BRICS Rescue for the Eurozone

Brazil’s ambitious attempt to forge an internal consensus within the so-called ‘BRICS’ grouping for a timely financial intervention to save Europe’s diseased southern economies has gone nowhere. The finance ministers of the BRICS nations – Brazil, Russia, India, China and South Africa -- just met in Washington D.C. to discuss this idea, but Beijing, New Delhi, Moscow and Pretoria have poured cold water on Brasilia’s proposal for coordinated bond-buying from the Eurozone’s fiscally weakest governments, Greece, Spain and Italy.

Read →

Comments on this post are for paying subscribers