"Guatemala should not have to pay for the failure of a model that we never wanted," said Guatemala's President Alvaro Colom. "I hope they don't ask us for more poverty because we can't give more."
President Colom stated: "Let us fashion a new model of development, where Solidarity is the basis."
Latin American leaders opening the IberoAmerican Summit on Thursday, 30 of October 2008, denounced "The current crisis stems from a process of accelerated deregulation, in other words, the false premise that financial systems can regulate themselves without the presence of the state," Mexican President Felipe Calderon said in a speech at the summit in El Salvador's capital.
The economic crisis that has become worldwide became the main issue for the heads of state during the XVIII Ibero-American Summit, El Salvador 2008. And although there have been very different visions about how to confront the current financial crisis, the majority has agreed that the young population will be most affected.
In this regard, the President of Guatemala, Alvaro Colom, advocated the creation of an Ibero-American model to pursue development, in which, Solidarity and Social Cohesion, should be core elements.
"Ibero-America must create its own model of economic development with social cohesion and solidarity as a basis. We where forced to implement the neoliberal economic model, I proposed we make the solidarity model "fashionable". Economics based on social cohesion and solidarity can make the world a better place. "We must create a new, strong and not confrontational model. This is a new Generation of Latin American Presidents and we should guarantee a better future for young people," said the president of Guatemala.
Also, Colom stressed that the strength of Latin America is its multiculturalism.
Brazilian President Luiz Inacio Lula da Silva warned the crisis could erase economic progress in Latin American countries that for years followed Washington's advice to curb spending and open their markets. "The measures we adopted to benefit our youth will be of little use if all of this effort we have made to overcome poverty is threatened by the irresponsible acts of those who created a casino economy," Silva said.
The Ibero-American Presidents demanded stricter financial regulations and denounced that unchecked capitalism and excessive deregulation for causing the world financial meltdown that is now reverberating in their own economies.
The XVIII Ibero-American Summit "Youth and Development", ended with the "Declaration of San Salvador" and the "Commitment of San Salvador for Youth and Development."
Photo Presidencia El Salvador
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