Mercosur lays down ultimatum for Venezuela to meet membership terms

The founding members of Mercosur will give Venezuela until Dec. 1 to meet its membership requirements or be suspended from the trade bloc, Brazil said on Tuesday, in the latest twist in a row that has exposed ideological divisions. The ultimatum will further isolate the socialist-led nation, which has been at the center of a fight over the rotating presidency of Mercosur, which has turned to the right after years dominated by leftist governments. Brazil's Foreign Ministry said in a statement that decision was meant to "preserve and strengthen Mercosur." Argentina, Brazil, Paraguay and Uruguay also decided in a deal first reported by Reuters to share the presidency of the group in a temporary solution to the group's currently being without a head. More…