A Revealing Admission

Former Mexican President Vicente Fox recently made a very revealing admission in an interview with Larry King.

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According to a transcript published by CNN, King, near the end of the broadcast, asked Fox a question e-mailed from a listener, a Ms. Gonzalez from Elizabeth, N.J.: "Mr. Fox, I would like to know how you feel about the possibility of having a Latin America united with one currency?"

Fox answered in the affirmative, indicating it was a long-term plan. He admitted he and President Bush had agreed to pursue the Free Trade Agreement of the Americas – a free-trade zone extending throughout the Western Hemisphere, suggesting part of the plan was to institute eventually a regional currency.

"Long term, very long term," he said. "What we proposed together, President Bush and myself, it's ALCA, which is a trade union for all the Americas."

ALCA is the acronym for the Area de Libre Comercio de las Américas, the name of the FTAA in Spanish.

King, evidently startled by Fox's revelation of the currency, asked pointedly, "It's going to be like the euro dollar (sic), you mean?"

"Well, that would be long, long term," Fox repeated.

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Fox explained that he and Bush intended to proceed incrementally, establishing FTAA as an economic agreement first and waiting to create an amero-type currency later – a plan he also suggested was in place for NAFTA itself.

"I think the process to go, first step is trading agreement," Fox said. "And then further on, a new vision, like we are trying to do with NAFTA."