Much-trumpeted BRIC summit ends quietly

By Chris Buckley

YEKATERINBURG, Russia (Reuters) - Despite advance bluster about challenging the financial status quo, the first summit of emerging "BRIC" powers was a muted performance, underscoring the hurdles they face in forging a cohesive bloc.

Gathering leaders from Brazil, Russia, India and China in the Russian city of Yekaterinburg for a few hours on Tuesday was never likely to produce a blueprint for international reform.

But the meeting's final communique was scant on specifics. It did not mention the creation of a supranational reserve currency to dilute the dominance of the U.S. dollar, an idea Russia had promoted heavily.

"Presidents not taken in by reserve currency", Russia's Kommersant daily headlined in a report on the meeting.

Instead, the four disparate emerging market powers presented a broad common front to try to get more say in negotiations with rich powers, said Gregory Chin of York University in Toronto.

"This was to make sure the developing countries' interests continue receiving attention at the G8 and G20 meetings," said Chin, who is studying the international roles of the BRIC and other emerging economies.

The next Group of Eight summit for developed powers takes place in Italy in July, and the United States will host the next Group of 20 summit later in the year.

To win real sway, however, BRIC governments need to agree on a shared agenda that goes beyond simply asking for more places at the global top tables.