President Proposes Formation of a Latin American-Caribbean Block to Confront Global Crisis

President Leonel Fernández commended the summits of the Union of South American Nations and the Latin American and Caribbean Nations on Integration and Development, which are being held with the goal of forming a large block to jointly confront and successfully face the challenges of the global crisis.

he estimated that the moment has arrived to form a huge alliance between Latin America and the Greater Caribbean,

Surrounded by reporters covering the development of both summits, the Dominican president expressed his ideas on the need for regional integration.

“Today, more than ever, it is necessary to form a large block that integrates the Southern Cone with the Caribbean,” President Fernández said.

He affirmed that it is essential to confront the global crisis as a block and he estimated that the moment has arrived to form a huge alliance between Latin America and the Greater Caribbean, adding that the current situation favors regional integration to successfully face the growing challenges.

He reiterated his thoughts that the global economic crisis was generated by speculation in the mortgage, financial and capital markets and is in no way the fault of Latin America.

The president arrived in a private jet from the Dominican Republic to the Diputado Luis Eduardo Magalhanes Airport.

The Dominican delegation includes Foreign Minister Carlos Morales Troncoso; Director of the President´s Information, Press and Publicity Office, Rafael Núñez and leftist leader José Ernesto Oviedo. In addition, the President´s team includes General Héctor Belisario Medina Medina, Chief of the Presidential Military Assistants; the special assistant to the President, Danilo Pérez and Deputy DNI Director Víctor Crispin.

In keeping with the official itinerary of the summits, President Fernández will participate in the Extraordinary Summit of the Union of South American Nations which will cover issues related to the global crisis.

He will also attend the first plenary session of the Latin American and Caribbean Nations on Integration and Development. During the evening hours, the president will attend a dinner, given by Brazilian President Luíz Inácio Lula da Silva in honor of the visiting presidents attending both summits.