While the Iberoamerican summit was traditionally a place for Spain to showcase its privileged role as a "big brother" for Latin American countries, it has seen that power diminished because of the four-year financial crisis, said Vincent Forest, an economist with the Economist Intelligence Unit.Highly educated Spaniards and Portuguese are increasingly leaving to seek work in the countries' former Latin American colonies. And although Cadiz is more than anything a symbol of Spain's powerful colonial past, it now has one of the highest unemployment rates in the country.
Glum Spain Hosts Summit For Booming Latam Nations
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