Mercosur and Celac country-members expressed support for Argentina and its ongoing litigation with the holdout hedge funds, particularly last week's decision from the US Supreme Court, (which refused to consider the case), and the financial consequences emerging from such a position.
Argentina and Brazil have again clashed not over football but over trade and Mercosur according to the Sao Paulo media. Brazil believes there is a lack of ambition from Argentina to finish polishing the proposal to be exchanged with the European Union for a much delayed cooperation and trade agreement.
Chilean President Michelle Bachelet on Friday proposed a September gathering between officials and business leaders from Mercosur and the Pacific Alliance in hopes of creating a tie-up between the two Latin American trade groups.
The Pacific Alliance will try to 'expand its influence' through agreements with other blocks to improve cooperation in different fields while targeting a wider integration in the region, said Mexico's Economy minister Ildefonso Guajardo. The Alliance is holding its summit this week in Punta Mita, Mexico when the chair of the group will pass from Colombia on to Mexico.
German Chancellor Angela Merkel assured Brazil on Sunday that she will do her utmost to bring to successful end negotiations for a cooperation and free trade deal between the European Union and Mercosur.
There is no sense in holding discussions if both sides are not ready and there are no dates for a meeting of European Union and Mercosur negotiators, revealed the EU External Action Service Director Christian Leffler who nevertheless expects a positive result in the near future.
European Parliament lawmakers Marian Harkin and Pat The Cope Gallagher have issued strong warnings of soundings coming from Europe of a potential Mercosur trade deal, particularly European Commission President Barroso intention of having the agreement signed before he steps down from office.
Uruguay Foreign Affairs minister Luis Almagro said that the political situation in Venezuela makes it quite improbable that the three-times postponed and since delayed Mercosur summit can effectively take place in Caracas sometime in the next two months.
In a 'dialogue without ties' at the World Bank President Jose Mujica said that Uruguay is a 'frontier country' which history did not want it to belong to any of the two big neighbors (Argentina and Brazil) so that the Atlantic ocean would not be left to an only country.
At the end of May Mercosur will be ready to exchange tariff-reduction proposals with the European Union, announced Brazilian Industry minister Mauro Borges who also anticipated the trade block would be holding a preparatory meeting next week in Caracas, Venezuela.