This thesis studies MERCOSUR Agreements in the area of banking services. The core issue of this study is to examine whether the present and potential benefits arising from MERCOSUR Agreements - as they have been designed and implemented - are worth the risks and difficulties underscored of the liberalisation and integration processes. For the proposed analysis, first of all a presentation is made of the context in whichMERCOSUR integration is inserted (Chapter I). This means the trends towards globalisation, internationalisation and liberalisation present today in Latin America's financial sector. In the second place (Chapter Il), the Asuncion Treaty and MERCOSUR complementary Protocols are described. Thirdly (Chapter Ill), the regulations and structures generated in the MERCOSUR in relation to banking services are presented. Chapter IV describes countries financial legislation and regulation. Subsequently (Chapter V Section 1), the obstacles to liberalisation and integration present today in the instruments, bodies and specific provisions regarding the banking sector in the MERCOSUR and in the internal legislation of its Party States, are gone into in depth. Finally, (Chapter V Section 2), an explanation is given of the impact of the Brazilian and Argentine economic crises since 1999 on the MERCOSUR integration process, in macroeconomic and unilateral trade measures. The author's principal conclusion is that the MERCOSUR framework has a positive potential and may contribute to the economic growth and wellbeing of the countries and societies it involves. For the further development and enhancement of its positive effects, MERCOSUR should avoid or at least mitigate the risks and difficulties involved in the opening up processes. The author suggests some concrete strategies for future negotiations in the context of MERCOSUR, FTAA, GATS or other liberalisation agreements involving Latin American countries.