Mercosur Turns 15: Between Rising Rhetoric and Declining Achievement

Founded in 1991 as an intergovernmental association among four member countries, Mercosur is likely to begin 2006 as intergovernmental and with the same members as when it was founded. Political rhetoric notwithstanding, there has been little deepening and no enlargement in almost 15 years. There have been some achievements, however: increased regional interdependence and political cooperation. This article assesses how much Mercosur has achieved in light of its starting point and the explicit goals set by regional decision makers. It then makes a critical appraisal of the distance between political rhetoric and effective policy implementation, focusing on the role played by the two largest members, Argentina and Brazil. Finally, the article examines the current enlargement, deepening and institutionalisation agenda and assesses its feasibility.