Venezuela to be “demoted” from full Mercosur membership on 12 August

Sunday, August 7th 2016 - 20:47 UTC

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Paraguay, Argentina and Brazil are considering the “demotion” of Venezuela's Mercosur full membership unless by next August 12 it complies with all conditions to hold such a position, according to the Brazilian media following a meeting of the three presidents in the sidelines of the opening of the Rio Olympic Games. Read full article

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ElComandante
Why is Venezuela even a member? All their oil is now going to the US and China, Maduro has all but dismantled Petrocaribe, to cover the interest on his China loan payments $60,000,000,000. Outside of the cocaine they shipped to Paris and the US, what part do they even play in the South American economy (other then a drain.)
Aug 08th, 2016 - 05:29 am - Link - Report abuse 0
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ChrisR
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Aug 09th, 2016 - 01:53 pm - Link - Report abuse 0
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ElaineB
@1 When Dilma and Christina turned Mercosur into a political vehicle rather than a trading bloc, Chavez wanted to be its' leader. Christina most definitely owed Chavez as he had diverted Venezuelan money to fund the election campaigns of the Kirchner and had made various loans by way of buying up worthless Argentine bonds and debts. Paraguay always blocked the inclusion of Venezuela for obvious reasons so they were suspended for long enough for the other countries to vote in Venezuela.

To answer your question: Venezuela should never have been a member and it could be argued that their inclusion was illegal. Now Chavez is dead, CFK closer to prosecution and Dilma on the verge of being removed from power, there is no reason for Venezuela to remain a part of Mercosur.

It may be that - like the fears about Brexit - it may be the beginning of the end of Mercosur if one is thrown out. More likely is the fear their loans may be called in.
Aug 10th, 2016 - 10:50 am - Link - Report abuse 0
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