Chavez calls for advancing in unity while neoliberalism sinks

• Meeting of presidents of Venezuela, Bolivia, Ecuador and Brazil in Manaos

MANAOS, September 30.—Venezuelan President Hugo Chávez stated here in the Brazilian city of Manaos, during a summit of the presidents of Brazil, Luis Inacio Lula da Silva; Bolivia, Evo Morales; and Ecuador, Rafael Correa, that the Bank of the South must be activated in response to the financial crisis, ANSA reports. "While neoliberalism in sinking we are advancing in unity and, in a very concrete way, in the Bank of South," Chávez affirmed.  "We cannot lose any more time in activating the Bank of the South, a proposal that Venezuela has been promoting for more than 10 years and which we signed one year ago in Buenos Aires," he continued, emphasizing the need to develop our own mechanisms, unrelated to the Bretton Woods model, given the possibility that the Latin American nations could be shaken by international tremors.

According to Reuters, the summit of South American presidents discussed bilateral and regional issues, and harshly criticized the United States for its handling of the financial crisis that is shaking the markets and threatening economies worldwide.  Lula reiterated the criticisms of Washington he expressed in his UN speech for the financial turbulence that it has generated in the international market.  For his part, Bolivian President Evo Morales highlighted that the financial crisis has demonstrated that "capitalism is no solution for humanity."

After a working meeting between Brazil andVenezuela, seven agreements in the oil, food, industrial and social sector were signed. Translated by Granma International