(6-30-12) On June 29, 2012, Venezuela was accepted as full member of MERCOSUR, while Paraguay was formally suspended due to the June 22 putsch.
MERCOSUR is an EU-styled agreement between Brazil, Argentina, Uruguay and Paraguay.
Venezuela had signed a membership agreement in 2006, but was unable to join since the extremist, right-wing Paraguayan Congress refused to ratify the agreement.
Yesterday, Paraguay was suspended until democratic elections take place, planned for next year. After the suspension, the remaining MERCOSUR members had ratified Venezuela's joining agreement, thus in the same session held in Mendoza, Argentina, it was announced that Venezuela's official inauguration to the trade bloc will take place on July 31 in Rio de Janeiro, Brazil. Does that mean that the American-backed putsch failed?
The Paraguayan putsch was odd since it came just a few months ahead of general elections. It was performed by a Machiavellian manipulation of the Paraguayan Constitution adopted after the end of the appalling military dictatorship of General Stroessner, who was a close ally of the USA.