Bolvias finance minister announced that the Bank of the South is ready to begin operations. The alternative financial institution Bank of the South is ready to begin operations with capital contributions from Bolivia, Argentina, Ecuador and Venezuela, said Bolivian Finance Minister Luis Arce on Monday. Arce stated that countries were "now fulfilling the requirements for the establishment and start of operations of the Bank of the South: resources from Argentina, Venezuela, Ecuador and Bolivia have been guaranteed." "The only thing we need is for the presidents to gather and raise the checkered flag to start activities at the Bank of the South," said Arce, adding there was no official date for the opening. The Bank of the South was an initiative proposed in 2007 by the member countries of the Union of South American Nations (UNASUR). The bank seeks to lessen dependence on traditional international financial institutions such as the World Bank and International Monetary Fund by providing alternative sources of financial capital. The financial institution is expected to have an initial operation budget of US$20 billion, which will finance a wide variety of projects including physical infrastructure, energy integration and natural resource initiatives. Fonte: http://www.telesurtv.net/english/news/Bolivia-Bank-of-the-South-Ready-to-Operate-20150310-0010.html Venezuela is not alone. They have the support of all the Latin American and Caribbean countries, Ecuador's Foreign Minister added. Ecuadorean President Rafael Correa has said the member-states of the Union of South American Nations (UNASUR) bloc will meet to discuss U.S. interference in Venezuelan affairs which he described as gross, illegal, shameless, outrageous, and unjustified act of interference. The UNASUR meeting comes on the heels of the announcement by U.S. President Barack Obama declaring Venezuela an unusual and extraordinary threat to the United States. The head of UNASUR, Ernesto Samper, has already made clear that the bloc stands behind the democratically-elected government of Nicolas Maduro. "There is no possibility that UNASUR will validate any attempt to disrupt the democratic process in any country in the region," said Samper. During a meeting in Quito, Ecuador, which included representatives of Mercosur, ALBA, Pacific Alliance, the Andean Community and the Amazon Treaty Cooperation Agreement (OTCA), Samper added that the sanctions against Venezuela were not a good sign at this time. It is not a good thing that the United States unilaterally interferes in Venezuela's internal affairs precisely before the Summit of the Americas (scheduled for April) and when we were preparing to celebrate the return of Cuba to this forum, he said. He also condemned the fact that Washington is undermining the efforts being made by the foreign ministers of Brazil, Colombia and Ecuador to pave the way for a political dialogue respecting Venezuela's sovereignty. Ecuadorean Foreign Minister Ricardo Patino told teleSUR on Wednesday that the UNASUR bloc backs Venezuela's sovereignty and that the extraordinary meeting in Uruguay is to respond to Obama's actions. Venezuela is not alone. They have the support of all the Latin American and Caribbean countries, he added. Patino said that the fact the Washington considers Venezuela a threat to its national security is unacceptable and condemned the U.S. for using these types of