The Secretary-General of the Ibero-American Secretariat Enrique Iglesias, warned Thursday that the EU crisis could reach as far as Asia and Latin America, and that preventive measures should be taken.
“We all live on planet earth, so if the crisis persists, it will definitely hit us”, Iglesias said during a summit in Madrid, Spain.
Likewise, Iglesias remembered the importance for Latin America of the goods demand coming from Asian markets, “If Europe affects Asia, then Latin America will be in trouble.”
“Both the demand and prices of raw materials could be affected in Latin America, plus there could be a negative impact in terms of investments”.
Furthermore, Iglesias remarked that “we are heading to a much more competitive world in which LatAm’s strength is the integration of its members. Currently there are more than 500 “multi-latin” companies.”
To end, Iglesias said “Latin America has a great chance to play an important role in the world markets”, and concluded, “So far there are countries like Brazil, Mexico, and Argentina already participating in the G20.”