CBS Investment

Brazil is not against dedollarization of the global financial system and trade, but this process should take place gradually, through a “safe action”, said Minister of Foreign Affairs of Brazil Celso Amorim.
“I do not know whether the world is ready to say “let’s replace the dollar with special drawing rights (SDR) or something similar”, but why should not we go in the direction of this?” – S. Amorim told reporters at the UN headquarters.

The past year was very difficult for the world financial system. Banks of most of the world’s developed and developing countries suffered huge losses, and in some cases, it took even the intervention of the authorities in order to prevent their bankruptcy and collapse of the banking system, transmits Reuters.

Of course, large-scale crisis plans of the authorities had their effect, and investors are gradually beginning to return their confidence. But some experts warn that the crisis is not yet finished, and soon many banks will have to write off their assets. This is particularly true of European banks, underscore the market participants.