Good morning! This week, no deal seems likely for Mercosur-EU agreement. Brazil takes over the G20 presidency. Braskem’s Maceió scandal. And a look into congressional budgetary grants.
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Mercosur and EU punt on deal
An in-person summit between representatives of the European Union and Mercosur, the trade alliance between Brazil, Argentina, Paraguay, and Uruguay, was scheduled for December 7 in Rio de Janeiro (where Mercosur countries are meeting this week). Brazilian officials recently said they hoped the two sides would use the opportunity to announce that the free-trade agreement between the blocs would finally be signed.
But, but, but … Far-right libertarian economist Javier Milei takes office as the new president of Argentina on December 10. Even if his future foreign minister said the new government would not oppose the deal, the outgoing administration is seeking to push the deal through before the transition of power is complete.
- Two sources, one from each side, told The Brazilian Report there is no chance the deal will come to fruition this year. And...