Latin America Update: August 8, 2012
Untapped Internal Markets of Venezuela Now Open for Mercosur Countries
Paraguay’s presidential impeachment puts Venezuela in Mercosur trade bloc. Mercosur = Argentina, Brazil, Paraguay (suspended), Uruguay, and now Venezuela.
Strike #1: Paraguay, known as a hub for trafficking of contraband and drugs, has gone through periods of political instability since the dictatorship of Alfredo Stroessner in 1989. On June 23, 2012, Paraguay’s senate voted to impeach its President and colorful left-wing Catholic Priest for fathering several children.
Strike #2: Paraguay’s Vice-President, Luis Federico Franco, is installed as interim president of Paraguay, a move that is considered an “express coup d’etat” by the members of Mercosur who vote to suspend Paraguay from its membership.
Strike #3: Without Paraguay’s vote, Mercosur moves to confirm Venezuela’s full membership, long opposed by the Paraguayan Senate due to concerns about Chavez’s democratic credentials.
#Update from Jock Chamberlain, President Murcadom Corporation#