Expert: Entry of Venezuela into Mercosur should be properly managed
Oil is pivotal to achieve integration within the bloc
During the international conference entitled "Venezuela into Mercosur," an event organized by the Venezuelan Council on Foreign Affairs (Covri) and the Higher Institute for International and Diplomatic Studies, the specialist remarked that Venezuela "cannot erect an isolating wall," because said integration is positive. Parcarelli also expressed the need for negotiating longer terms so as to allow the Venezuelan products to be competitive vis-à-vis the ones of other Mercosur member countries.
Meanwhile, Rafael Quirós, a petroleum consultant for the Central Bank of Venezuela and a professor at the UCV, said, "there is no other commodity as important as oil for bolstering and encouraging integration. Everything is related to oil, especially in a region where everything starts and ends in a barrel. "Oil is the main ingredient of integration."
Translated by Jhean Cabrera
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.