IBOV 170,331 ▼ 2.22% IPSA 10,360 ▼ 1.05% IPC MEX 68,286 ▼ 0.88% MERVAL 3,164,196 ▼ 1.86% COLCAP 2,264.61 ▲ 0.44% BVL PERÚ 34,836.62 ▲ 0.71% USD/BRL 5.06 ▲ 1.08% USD/MXN 17.33 ▲ 0.22% USD/CLP 894.75 ▲ 0.75% USD/COP 3,572 ▲ 0.18% USD/PEN 3.40 ▼ 0.03% USD/ARS 1,439 ▲ 0.82% USD/UYU 40.27 ▲ 1.59% USD/PYG 6,095 ▲ 3.16% USD/BOB 6.86 ▲ 1.79% USD/DOP 57.83 ▲ 0.14% USD/CRC 456.90 ▲ 3.28% USD/GTQ 7.62 ▲ 2.15% USD/HNL 26.64 ▲ 1.72% USD/NIO 36.62 ▲ 0.68% USD/VES 557.25 ▼ 0.01% USD/PAB 1.00 ▲ 2.20% USD/BZD 2.00 ▲ 1.63% USD/JMD 156.58 ▲ 0.53% USD/TTD 6.67 ▲ 0.30% EUR/BRL 5.87 ▲ 0.15% BRENT 97.90 ▲ 1.98% WTI 96.22 ▲ 2.62% IRON ORE 161.91 — — COPPER 6.48 ▼ 2.51% GOLD 4,462 ▼ 0.61% SILVER 73.00 ▼ 3.08% SOY 1,154 ▼ 1.01% CORN 430.75 ▼ 2.21% WHEAT 586.75 ▼ 2.69% COFFEE 252.65 ▼ 2.53% SUGAR 14.22 ▼ 1.11% ORANGE JUICE 167.05 ▲ 4.41% COTTON 76.58 ▼ 0.60% COCOA 4,037 ▼ 1.73% BEEF 237.85 ▼ 3.97% CATTLE 342.58 ▼ 1.68% LITHIUM 84.86 ▼ 1.78% PETR4 41.25 ▼ 0.77% VALE3 81.79 ▼ 3.78% ITUB4 38.72 ▼ 2.12% BBDC4 17.37 ▼ 2.14% ABEV3 16.07 ▼ 2.31% BBAS3 19.53 ▼ 1.81% B3SA3 15.52 ▼ 4.67% WEGE3 41.78 ▼ 0.52% PRIO3 62.59 ▲ 0.98% SUZB3 41.22 ▲ 1.95% RENT3 40.44 ▼ 3.32% AZZA3 17.38 ▼ 8.48% CSAN3 3.58 ▼ 7.73% RAIZ4 0.39 ▲ 2.63% PCAR3 1.54 ▼ 1.91% GMAT3 4.20 ▼ 0.24% PSSA3 48.16 ▼ 1.19% CVCB3 1.48 ▼ 3.90% POSI3 3.75 ▼ 7.64% SLCE3 14.98 ▼ 2.03% NATU3 9.80 ▼ 0.61% BRKM5 9.43 ▼ 5.79% RANI3 7.90 ▲ 0.51% CSNA3 6.68 ▼ 6.31% CMIN3 4.50 ▼ 5.86% USIM5 11.46 ▼ 4.82% GGBR4 24.13 ▼ 2.11% ENEV3 24.23 ▼ 4.42% NEOE3 33.80 — 0.00% CPFE3 43.30 ▼ 0.46% CMIG4 10.86 ▼ 1.27% EQTL3 39.81 ▲ 1.89% LREN3 14.64 ▼ 5.67% VIVT3 33.75 ▼ 0.15% RAIL3 13.89 ▼ 2.11% KLABIN 16.76 ▼ 0.89% RAIA DROGASIL 17.51 ▼ 3.26% RDOR3 33.11 ▼ 3.33% HAPV3 11.22 ▼ 8.26% FLRY3 14.70 ▼ 4.11% SMTO3 17.30 ▼ 1.14% UGPA3 24.92 ▼ 3.07% VBBR3 29.48 ▼ 2.16% BBSE3 35.04 ▼ 0.26% BPAC11 50.71 ▼ 4.77% CURY3 29.45 ▼ 6.00% AERI3 2.31 ▼ 1.28% VIVARA 20.50 ▼ 4.21% COMPASS 25.79 ▼ 2.68% VAMOS 2.94 ▼ 1.01% SANB11 26.72 ▼ 2.34% ASAI3 8.79 ▼ 2.87% SBSP3 27.23 ▼ 1.66% WALMEX 52.05 ▲ 0.19% GMEXICO 213.71 ▼ 3.18% FEMSA 211.97 ▲ 2.01% CEMEX 22.45 ▼ 1.32% GFNORTE 181.22 ▼ 0.57% BIMBO 58.29 ▲ 0.19% TELEVISA 9.08 ▼ 1.52% AMX 22.14 ▼ 0.49% GAP 418.01 ▲ 0.62% ASUR 296.77 ▼ 2.07% OMA 220.05 ▼ 1.57% KOF 186.51 ▼ 0.73% GRUMA 294.39 ▲ 0.36% KIMBER 38.10 ▼ 0.81% SQM-B 71,000 ▼ 1.29% COPEC 6,100 ▼ 1.36% BSANTANDER 68.10 ▼ 1.32% FALABELLA 5,450 ▼ 2.07% ENELAM 76.77 ▼ 1.18% CENCOSUD 2,168 ▲ 0.37% CMPC 1,028 ▼ 0.39% BANCO CHILE 163.99 ▼ 1.68% LATAM AIR 22.29 ▼ 1.37% YPF 83,050 ▼ 0.27% GGAL 7,350 ▼ 3.10% PAMPA 5,115 ▼ 1.35% TXAR 676.50 ▼ 2.10% ALUAR 1,015 ▲ 1.50% TGS 9,205 ▼ 2.80% CEPU 2,309 ▼ 2.49% MIRGOR 16,925 ▼ 0.88% COME 47.91 ▼ 3.17% LOMA NEGRA 3,430 ▼ 2.14% BYMA 293.00 — 0.00% TELECOM ARG 4,053 ▼ 2.88% ECOPETROL 15.58 ▼ 2.50% BANCOLOMBIA 72.25 ▼ 2.03% GRUPO AVAL 4.98 ▲ 0.81% CREDICORP 327.42 ▼ 4.80% SOUTHERN COPPER 196.59 ▼ 2.37% BUENAVENTURA 33.86 ▼ 2.67% MERCADOLIBRE 1,639 ▼ 2.05% NUBANK 11.64 ▼ 2.43% XP 15.60 ▼ 3.70% PAGSEGURO 8.77 ▼ 4.88% STONE 10.64 ▼ 5.34% GLOBANT 39.67 ▼ 6.17% TECNOGLASS 42.31 ▼ 3.29% GAP AIRPORT 240.72 ▲ 0.28% ASUR 296.77 ▼ 2.07% OMA AIRPORT 101.18 ▼ 2.25% AMX ADR 25.54 ▼ 0.66% FEMSA ADR 121.81 ▲ 1.39% CEMEX ADR 12.90 ▼ 1.23% PETROBRAS ADR 18.19 ▼ 2.83% VALE ADR 16.06 ▼ 4.52% ITAU ADR 7.59 ▼ 3.44% SANTANDER BR 5.30 ▼ 3.28% AMBEV ADR 3.14 ▼ 3.38% CSN 1.31 ▼ 7.75% GERDAU 4.75 ▼ 2.86% LATAM ADR 49.71 ▼ 2.55% BTC 65,026 ▼ 2.52% ETH 1,787 ▼ 3.82% SOL 71.43 ▼ 3.66% XRP 1.19 ▼ 1.36% BNB 617.88 ▼ 5.00% ADA 0.20 ▼ 4.92% DOGE 0.09 ▼ 1.51% AVAX 7.97 ▼ 2.42% LINK 8.15 ▼ 2.49% DOT 1.09 ▲ 1.04% LTC 47.14 ▲ 0.50% BCH 242.37 ▼ 9.89% TRX 0.33 ▲ 0.36% XLM 0.21 ▼ 5.37% HBAR 0.09 ▼ 1.74% NEAR 2.81 ▲ 6.88% ATOM 1.86 ▲ 2.09% AAVE 73.82 ▲ 0.44% SELIC 14.50% EMBRAER 69.67 ▼ 3.17% EMBRAER ADR 55.19 ▼ 3.63% JBS 11.88 ▼ 2.62% JBS BDR 59.90 ▼ 1.17% MBRF3 15.78 ▼ 0.44% MBRFY 3.06 ▼ 5.56% INTER 5.80 ▼ 3.33% IBOV 170,331 ▼ 2.22% IPSA 10,360 ▼ 1.05% IPC MEX 68,286 ▼ 0.88% MERVAL 3,164,196 ▼ 1.86% COLCAP 2,264.61 ▲ 0.44% BVL PERÚ 34,836.62 ▲ 0.71% USD/BRL 5.06 ▲ 1.08% USD/MXN 17.33 ▲ 0.22% USD/CLP 894.75 ▲ 0.75% USD/COP 3,572 ▲ 0.18% USD/PEN 3.40 ▼ 0.03% USD/ARS 1,439 ▲ 0.82% USD/UYU 40.27 ▲ 1.59% USD/PYG 6,095 ▲ 3.16% USD/BOB 6.86 ▲ 1.79% USD/DOP 57.83 ▲ 0.14% USD/CRC 456.90 ▲ 3.28% USD/GTQ 7.62 ▲ 2.15% USD/HNL 26.64 ▲ 1.72% USD/NIO 36.62 ▲ 0.68% USD/VES 557.25 ▼ 0.01% USD/PAB 1.00 ▲ 2.20% USD/BZD 2.00 ▲ 1.63% USD/JMD 156.58 ▲ 0.53% USD/TTD 6.67 ▲ 0.30% EUR/BRL 5.87 ▲ 0.15% BRENT 97.90 ▲ 1.98% WTI 96.22 ▲ 2.62% IRON ORE 161.91 — — COPPER 6.48 ▼ 2.51% GOLD 4,462 ▼ 0.61% SILVER 73.00 ▼ 3.08% SOY 1,154 ▼ 1.01% CORN 430.75 ▼ 2.21% WHEAT 586.75 ▼ 2.69% COFFEE 252.65 ▼ 2.53% SUGAR 14.22 ▼ 1.11% ORANGE JUICE 167.05 ▲ 4.41% COTTON 76.58 ▼ 0.60% COCOA 4,037 ▼ 1.73% BEEF 237.85 ▼ 3.97% CATTLE 342.58 ▼ 1.68% LITHIUM 84.86 ▼ 1.78% PETR4 41.25 ▼ 0.77% VALE3 81.79 ▼ 3.78% ITUB4 38.72 ▼ 2.12% BBDC4 17.37 ▼ 2.14% ABEV3 16.07 ▼ 2.31% BBAS3 19.53 ▼ 1.81% B3SA3 15.52 ▼ 4.67% WEGE3 41.78 ▼ 0.52% PRIO3 62.59 ▲ 0.98% SUZB3 41.22 ▲ 1.95% RENT3 40.44 ▼ 3.32% AZZA3 17.38 ▼ 8.48% CSAN3 3.58 ▼ 7.73% RAIZ4 0.39 ▲ 2.63% PCAR3 1.54 ▼ 1.91% GMAT3 4.20 ▼ 0.24% PSSA3 48.16 ▼ 1.19% CVCB3 1.48 ▼ 3.90% POSI3 3.75 ▼ 7.64% SLCE3 14.98 ▼ 2.03% NATU3 9.80 ▼ 0.61% BRKM5 9.43 ▼ 5.79% RANI3 7.90 ▲ 0.51% CSNA3 6.68 ▼ 6.31% CMIN3 4.50 ▼ 5.86% USIM5 11.46 ▼ 4.82% GGBR4 24.13 ▼ 2.11% ENEV3 24.23 ▼ 4.42% NEOE3 33.80 — 0.00% CPFE3 43.30 ▼ 0.46% CMIG4 10.86 ▼ 1.27% EQTL3 39.81 ▲ 1.89% LREN3 14.64 ▼ 5.67% VIVT3 33.75 ▼ 0.15% RAIL3 13.89 ▼ 2.11% KLABIN 16.76 ▼ 0.89% RAIA DROGASIL 17.51 ▼ 3.26% RDOR3 33.11 ▼ 3.33% HAPV3 11.22 ▼ 8.26% FLRY3 14.70 ▼ 4.11% SMTO3 17.30 ▼ 1.14% UGPA3 24.92 ▼ 3.07% VBBR3 29.48 ▼ 2.16% BBSE3 35.04 ▼ 0.26% BPAC11 50.71 ▼ 4.77% CURY3 29.45 ▼ 6.00% AERI3 2.31 ▼ 1.28% VIVARA 20.50 ▼ 4.21% COMPASS 25.79 ▼ 2.68% VAMOS 2.94 ▼ 1.01% SANB11 26.72 ▼ 2.34% ASAI3 8.79 ▼ 2.87% SBSP3 27.23 ▼ 1.66% WALMEX 52.05 ▲ 0.19% GMEXICO 213.71 ▼ 3.18% FEMSA 211.97 ▲ 2.01% CEMEX 22.45 ▼ 1.32% GFNORTE 181.22 ▼ 0.57% BIMBO 58.29 ▲ 0.19% TELEVISA 9.08 ▼ 1.52% AMX 22.14 ▼ 0.49% GAP 418.01 ▲ 0.62% ASUR 296.77 ▼ 2.07% OMA 220.05 ▼ 1.57% KOF 186.51 ▼ 0.73% GRUMA 294.39 ▲ 0.36% KIMBER 38.10 ▼ 0.81% SQM-B 71,000 ▼ 1.29% COPEC 6,100 ▼ 1.36% BSANTANDER 68.10 ▼ 1.32% FALABELLA 5,450 ▼ 2.07% ENELAM 76.77 ▼ 1.18% CENCOSUD 2,168 ▲ 0.37% CMPC 1,028 ▼ 0.39% BANCO CHILE 163.99 ▼ 1.68% LATAM AIR 22.29 ▼ 1.37% YPF 83,050 ▼ 0.27% GGAL 7,350 ▼ 3.10% PAMPA 5,115 ▼ 1.35% TXAR 676.50 ▼ 2.10% ALUAR 1,015 ▲ 1.50% TGS 9,205 ▼ 2.80% CEPU 2,309 ▼ 2.49% MIRGOR 16,925 ▼ 0.88% COME 47.91 ▼ 3.17% LOMA NEGRA 3,430 ▼ 2.14% BYMA 293.00 — 0.00% TELECOM ARG 4,053 ▼ 2.88% ECOPETROL 15.58 ▼ 2.50% BANCOLOMBIA 72.25 ▼ 2.03% GRUPO AVAL 4.98 ▲ 0.81% CREDICORP 327.42 ▼ 4.80% SOUTHERN COPPER 196.59 ▼ 2.37% BUENAVENTURA 33.86 ▼ 2.67% MERCADOLIBRE 1,639 ▼ 2.05% NUBANK 11.64 ▼ 2.43% XP 15.60 ▼ 3.70% PAGSEGURO 8.77 ▼ 4.88% STONE 10.64 ▼ 5.34% GLOBANT 39.67 ▼ 6.17% TECNOGLASS 42.31 ▼ 3.29% GAP AIRPORT 240.72 ▲ 0.28% ASUR 296.77 ▼ 2.07% OMA AIRPORT 101.18 ▼ 2.25% AMX ADR 25.54 ▼ 0.66% FEMSA ADR 121.81 ▲ 1.39% CEMEX ADR 12.90 ▼ 1.23% PETROBRAS ADR 18.19 ▼ 2.83% VALE ADR 16.06 ▼ 4.52% ITAU ADR 7.59 ▼ 3.44% SANTANDER BR 5.30 ▼ 3.28% AMBEV ADR 3.14 ▼ 3.38% CSN 1.31 ▼ 7.75% GERDAU 4.75 ▼ 2.86% LATAM ADR 49.71 ▼ 2.55% BTC 65,026 ▼ 2.52% ETH 1,787 ▼ 3.82% SOL 71.43 ▼ 3.66% XRP 1.19 ▼ 1.36% BNB 617.88 ▼ 5.00% ADA 0.20 ▼ 4.92% DOGE 0.09 ▼ 1.51% AVAX 7.97 ▼ 2.42% LINK 8.15 ▼ 2.49% DOT 1.09 ▲ 1.04% LTC 47.14 ▲ 0.50% BCH 242.37 ▼ 9.89% TRX 0.33 ▲ 0.36% XLM 0.21 ▼ 5.37% HBAR 0.09 ▼ 1.74% NEAR 2.81 ▲ 6.88% ATOM 1.86 ▲ 2.09% AAVE 73.82 ▲ 0.44% SELIC 14.50% EMBRAER 69.67 ▼ 3.17% EMBRAER ADR 55.19 ▼ 3.63% JBS 11.88 ▼ 2.62% JBS BDR 59.90 ▼ 1.17% MBRF3 15.78 ▼ 0.44% MBRFY 3.06 ▼ 5.56% INTER 5.80 ▼ 3.33%
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Wednesday, June 3, 2026

Guest Opinions Latin America

The Curmudeon on UNASUR

By · April 13, 2010 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO – As this is written, Presidents Lula and Obama are to sign a framework agreement on military defense between Brazil and the US. It’s the first such agreement since 1977, when President Jimmy Carter, showing his displeasure with the Brazilian military, canceled it unilaterally.

The Curmudgeon, aka Michael Royster.
The Curmudgeon, aka Michael Royster.
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Since that time, of course, the military of the two countries have continued to have interchanges and work with each other, but without any formal agreement.

Before the signing, the acting secretary of UNASUR’s South American Defense Council demanded that Brazil explain itself to UNASUR, and to say just what was going to be included in the agreement, whose terms had not been publicly announced. Brazil’s reply was a curt “we already told you some time ago”.

So, you ask, what is UNASUR, and why does it have a Defense Council? UNASUR the newly-fledged (2008) political grouping called the Union of South American Nations, merging the Andean Pact and Mercosur, and expanding to encompass all South American countries. Its Defense Council is designed be a NATO-like organization promoting peace and mutual defense. Defense against whom? The US, of course.

UNASUR in 2009 entered into most high dudgeon after member Colombia accepted Uncle Sam’s proposal to sign an agreement permitting a slightly greater military presence in its Amazon region. UNASUR even held an emergency summit to debate the topic. Things quieted down a bit thereafter, but most UNASUR nations profess to be worried about US military bases and personnel on the continent.

This leads us back to the Brazil/US framework agreement. Both sides have been very coy (meaning uncommunicative) about what’s in the agreement, but both have been very vocal about what it does NOT contain. It does NOT contain permission for the US to set up bases on Brazilian soil, or even to send troops to Brazilian bases. It does NOT call for the establishment of a permanent branch of the DEA in Brazil.

Beside preaching the inviolability of sovereign territory, it will map out joint military maneuvers and traditional educational exchange programs, and will encourage industrial and economic cooperation, which means better access for each country’s defense industries to the other’s military markets.

Why is UNASUR concerned? The Curmudgeon holds that the true reason is the Monroe Doctrine, which is alive and well in the political memories of ALL of South America. And we must admit it’s hard to forget 200 years of interventionist history when you’ve always been the interventee and the US has been the only interventor.

In this context, allowing US troops into South America is seen as the functional equivalent of allowing the fox into the hen-house. For instance, when US sent more troops to Haiti than most UNASUR members thought necessary, there was a bit of a tizzy that only ended when they left.

But not to worry! The Curmudgeon knows that the Monroe Doctrine fell terminally ill 50 years ago at the Bay of Pigs debacle, was left for dead when Venezuela invited the Russian navy in for joint maneuvers, and had another nail put in its coffin when President Obama criticized the Honduras coup in the same terms as Chavez.

For the Curmudgeon also knows that in order for the Monroe Doctrine to subsist there must be valid political or economic reasons for it, and the fact is that Latin America today is just not terribly important, either politically or economically, to the USA.

—-
Michael Royster, aka THE CURMUDGEON first saw Rio forty-plus years ago, moved here thirty-plus years ago, still loves it, notwithstanding being a charter member of the most persecuted minority in (North) America today, the WASPs (google it!)(get over it!)

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