South America Unites and Fights

from People's Weekly World: http://www.pww.org/article/articleprint/11938/

Brazil: Bank of the South shaping up

Seven South American finance ministers signed a “Declaration of Rio de Janeiro” Oct. 8, establishing the Bank of the South. Venezuelan President Hugo Chavez, joined by Bolivian and Argentine presidents, proposed the bank two years ago as a funding source for social and development projects and an alternative to the U.S.-controlled International Monetary Fund, World Bank and Inter-American Development Bank.

The presidents of Argentina, Brazil, Bolivia, Ecuador, Paraguay, Uruguay and Venezuela will inaugurate the bank Nov. 3 in Caracas, where it will be headquartered. Member states, each with one vote, will contribute 10 percent of their monetary reserves to capitalize the bank at $7 billion, an arrangement allowing for their “asymmetric” financial capabilities.

Even U.S. ally Colombia may eventually join for the sake of “Latin American integration.” Visiones Alternativas suggested that direct participation by U.S. trading partners may prove problematic.
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It may have taken some time, but it would appear that Che Guevara's dream of socialism starting in South American and spreading to world revolution may be getting its start.