Spain’s economy emerged from an almost two-year recession in the first quarter, trailing the Euro area by six months. GDP expanded 0.1% in the first three months of 2010, the Madrid-based Bank of Spain estimated in its monthly report today.
Honduran president Porfirio Lobo will not attend the LAC-EU summit in Spain later this month, after South American leaders who do not recognize him as his country's legitimate leader threatened to pull out. However, he will attend the EU/Central America meeting, which will be held a day later.
Only days after several UNASUR (Union of South American Nations) representatives said they would not attend the Sixth Latin America, the Caribbean and the European Union Summit if Honduran President Porfirio Lobo was invited, the Spanish Government has decided to exclude him from the meeting, according to sources in the Brazilian Government.
Several UNASUR member countries plan to skip the upcoming Latin America, the Caribbean and the European Union Summit (EU-LAC) in Madrid if Honduran President Porfirio Lobo is invited, Ecuadorian President Rafael Correa said in Buenos Aires.
The Spanish government and opposition made on Wednesday an attempt to join forces against the country's economic crisis amid international concern that Spain could be heading for a Greek-style meltdown.