Uruguayan Foreign Minister Rodolfo Nin Novoa stated on 18 November 2016 that on 1 December, Venezuela will lose its voting rights in Mercosur, as it has not adopted all of the trade bloc's regulations. Nin Novoa added that for Uruguay, this does not mean Venezuela faces expulsion from the bloc (Globovisión). However, Paraguayan Foreign Minister Eladio Loizaga stated on 21 November that Venezuela will be suspended from Mercosur on 1 December, and will remain so until it adopts the rules required to be an associate member of Mercosur (La Patilla). Mercosur's founding members Argentina, Brazil, Paraguay and Uruguay agreed on 13 September that Venezuela could not serve as the bloc's rotating president and gave Venezuela until 1 December to ratify over 300 rules and regulations to maintain its membership. Loizaga added the bloc's founding members will meet in Montevideo on 22 November to analyze the situation in Venezuela (Efecto Cocuyo).