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BrackenNovember 1 2011

Multilatinas herald a new age of Latin American integration

Latin America's up-and-coming 'multilatinas' appear to be succeeding where many have previously failed: in achieving a form of unification across the region. However, if the financial sector is to emulate its business counterpart, the tricky task of reaching a broad regulatory consensus will be essential.
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Two centuries ago, Simón Bolivar, one of the Latin American founding fathers, dreamt about a unified continent, a kind of United States of South America (the term Latin America was not used at the time). While this dream has never come to reality, recent activity across the region suggests it may be within reach.

There have been of course several attempts to integrate Latin economies, starting with Mr Bolivar’s own efforts. However, there is something substantially different about the more recent attempts at achieving such integration, free as they are from being driven by a political body, be it either a political leader, such as an inspired president, or a multilateral organisation.

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