Brazilian President Lula da Silva criticized the EU-proposed trade deal and urged Europe to abandon its protectionist stance.
He also criticized the WTO and IMF, which were formed during the post-WWII period, for being behind the time and not functioning effectively. Lula further proposed the use of a new currency in international trade, suggesting that countries should use their own currencies instead of the US dollar.
The statements were made during the Summit for a New Global Financing Pact in Paris, where French President Emmanuel Macron announced that wealthy nations had pledged $100b
...n for climate finance.
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