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Latin American Economy & Business - July 2015 (ISSN 1741-7430)

Mercosur (sort of) reacts

Mercosur, Latin America’s Southern Common Market, is in crisis, arguably. Both internal and external trade is on a downward trend. Its three largest economies are in recession. There is a history of internal disagreements over protectionism, and after 15 years of intermittent negotiations the trading bloc has still been unable to reach a free trade agreement (FTA) with the European Union. Yet at the summit of Mercosur heads of state held in Brasília in July, it was pretty much business as usual.

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