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Please view the full article source at: http://www.geopoliticalmonitor.com/eu-the-straw-that-broke-the-back-of-latin-american-regionalism-4699/ Regionalism, or more specifically, regional integration, refers to a process whereby groups of neighbouring countries deepen institutional ties by liberalizing their trade – usually through free trade areas and investment incentives - or by pooling national sovereignty into transnational organizations which are granted the authority to establish policy on key issues, such as human rights. Sometimes regional integration goes a step further, and attempts to foster a sense of community by creating a brand new regional identity. For this, the Association of Southeast Asian Nations (ASEAN) is a good example, as its constitution includes a provision to nurture a socio-cultural community alongside its economic and security branches. Whether the focus is on trade, politics, or community, the purpose of regional integration is simply power in numbers: individual member countries can be more prosperous, stable, and more influential as a bloc than they can hope to be on their own. A Brief History of Latin American Integration Latin America has courted the idea of strength through regional integration for generations. Simon Bolivar, 19th century Venezuelan statesman and champion of South American independence, was vocal about his desire to see the coming-together of regional governments and their people. Since then, emerging South American powers have pushed for increased integration as a way to capitalize on their national assets and gain relevance in the global market. Today, South American regionalism is primarily driven by the Union of South American Nations (UNASUR). UNASUR began its operations in 2011 and its membership boasts every South American state with the sole exception of French Guiana. The organization has already set some lofty goals for itself, envisioning a future regional currency, passport, and even a joint parliament. Please view the full article source at: http://www.geopoliticalmonitor.com/eu-the-straw-that-broke-the-back-of-latin-american-regionalism-4699