This article comments on some of the criticisms made to the proposal of a currency union among the Mercosur countries. It is clarified that the proposal must be understood as a target to be achieved after fulfilling a set of requirements. Besides, it is explained why we believe that the interpretation that the proposal would only be beneficial to Argentina is wrong and why some of the other criticisms, even being correct, do not invalidate the monetary unification. The paper concludes with a reflection about the Brazilian necessity of defining which role the country intends to play in the world, in 15 or 20 years.
Mercosur; Integration; Monetary union; Optimal monetary areas
