The relationship between the MERCOSUR agreement with the European Union and South American regionalism
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Note: this piece originally appeared in Portuguese in Revista Relações Exteriores, a Brazilian publication which provides analysis of major international events. Fernando Vieira works as a columnist in the field of political intelligence, macroeconomic analysis, and Brazilian foreign policy.
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The sealing of the political and economic agreement between MERCOSUR and the European Union (EU) in July 2019 has created an environment of optimism among the engaged members in promoting institutional and economic integration. For both trade blocs, the last few years have marked a significant setback towards these objectives: flagged by the finalization of the U.K.’s exit from the EU, the suspension of Venezuela from MERCOSUR, and the rising ideological divergences of Argentina from