The Latin American Union? Lessons for Latin America from the European Union and the International Monetary Fund on the Promises, Challenges, and Need for Regional Economic Integration

Authors

Jaime Andrés Collazo, Southern Methodist University, Dedman School of Law

Abstract

The concept of a Latin American union has been a long-standing idea, but recent advocacy from the continent's leading political figures for economic and political integration has reignited a debate in the region as to its feasibility and desirability. The impetus behind such advocacy includes bolstering economic connections, enhancing global standing, increasing regional autonomy, and collaboratively addressing modern challenges such as pandemics, climate change, and social inequality. This comment will explore the history of efforts to integrate the region, analyze the promises, challenges, and implications of establishing a common market and a common currency as documented in the creation of the European Union, and ultimately argue that the region does indeed need a unified market culminating in the establishment of a shared currency.

Recommended Citation

Jaime Andrés Collazo, Comment, The Latin American Union? Lessons for Latin America from the European Union and the International Monetary Fund on the Promises, Challenges, and Need for Regional Economic Integration, ILRA Student Forum (2023)