European Parliament 'Freezes' Mercosur Agreement

The European Parliament has decided to refer the Mercosur trade agreement to the Court of Justice of the European Union. This move could delay the implementation of the agreement by two years or even lead to its definitive cancellation. The agreement, which was signed on Saturday between the European Union and the Mercosur countries (Argentina, Brazil, Paraguay and Uruguay), is the largest trade agreement in the history of the EU. However, for it to come into force, final approval from all parties is required.