Obstreperous outsiders...

Both Venezuela and Iran could be considered outsiders to the "New World Order" (yawn). They are also overt resisters of "Western" restraint or control and they are both oil rich. Whilst all eyes were on Obama and Co., Hugo was in Tehran [El Universal, Spanish] inaugurating a joint development bank: the new Bi-National Iranian Venezuelan Bank "Ha nacido el banco. Es un acto histórico. Se hunde el imperialismo y sobre sus cenizas nace un mundo nuevo y seguro que está aquí. Venezuela e Irán sí estamos creando soluciones para la independencia y la felicidad de nuestros pueblos"

"A bank has been born. It is a historic act. Imperialism is sinking (has failed) and here, from its ashes, a new and safe world is born. Venezuela and Iran are creating solutions for the independence and happiness of our people"

The new bank was announced last year and will be based in Tehran; it will finance development projects in both countries. Currently it's unclear what those projects will be...UNCLEAR? Is that spelt correctly?