When Mercosur finally holds its much delayed summit in Venezuela at the end of the month following two postponements (12 December and 17 January), besides its normal agenda of agreements and disagreements, it will have to address a new challenge, this time from the European Union which has redefined its development support policy, leaving all Mercosur members, except Paraguay out of its tariffs and market access benefits.
Asian stocks have fallen on Friday, with some indexes driving towards their worst weekly losses since 2008. The Group of 20 nations said they were ready to preserve stability in the financial markets.
World shares fell Tuesday morning and the Euro came under pressure following a huge sell-off in Europe as renewed Euro zone debt woes added to already weak confidence in the global economy.
Asian shares were mixed on Thursday as fears about the European debt crisis overshadowed the region's growth prospects. Japan's Nikkei 225 index was down 1.3%, with Hong Kong's Hang Seng also dropping by 1.5%.