EU Edges Toward Mercosur Deal With Possible Dec. 20 Signing

Overview

• EU diplomats say a signature in Brazil on December 20 is feasible if remaining EU approvals are secured in time.
• The European Parliament’s trade committee is set to vote on agricultural safeguards, with passage viewed as likely by diplomats.
• Any committee approval must be followed by a plenary vote on the safeguards and on the final text before a European Council decision expected on December 18.
• Council approval requires at least 15 countries representing 65% of the EU population, giving populous members such as Italy, Germany and Spain significant sway.
• France and Poland remain opposed, and even after signature only commercial clauses could take effect while political provisions would await ratification by EU and Mercosur members.