Cuba and financial investment in the region are the two biggest issues
SOLEDAD GALLEGO-DÍAZ - Buenos Aires - 18/11/2011
Latin American leaders are paying close attention to see what changes,
if any, Spain's new government will make regarding its policy toward Cuba.
The Communist island's relations with Madrid and the rest of the
European Union have been an important focus of bilateral relations, and
Latin American presidents know that a conservative Popular Party (PP)
government won't be so keen to try to foment a friendly approach toward
the Castro regime.
During the past two decades, the majority of Latin American nations have
been governed by left-leaning presidents, who have identified themselves
more closely with Spain's Socialist Party. All of them recall the
hardline position the past PP government of José María Aznar took with
respect to Cuba, when the prime minister successfully campaigned at the
EU level to cool relations with Havana.
The PP has also not done much to improve its own image in certain
countries. After President Cristina Fernández de Kirchner won her first
term in 2007 ? taking over the Casa Rosada from her husband Néstor
Kirchner ? Spain's conservatives were very vocal in their opposition to
the idea of keeping the Argentinean presidency "within the family."
Nevertheless, even though Mariano Rajoy and Fernández de Kirchner are on
opposite ends of the political spectrum, bilateral relations between
Spain and Argentina are not thought to be in jeopardy should the PP
leader win the race on Sunday ? just in the same way Chilean-Spanish
relations didn't suffer when conservative Sebastán Piñera was elected
two years ago. Buenos Aires never cared for Colombia's former President
Álvaro Uribe, but now has a wonderful relationship with his predecessor,
Juan Manuel Santos, who is also a conservative.
Spain's relations with Brazil should the PP win are also expected to
remain on an excellent level. The Socialists have always had more
historic ties and contact with the Social Democratic Party of former
President Fernando Henrique Cardoso, than the Brazilian Workers Party
(PT), which is the governing party of President Dilma Rousseff.
Venezuela could be a different matter. But given that Venezuelans are
caught up with their internal problems, such as high crime and
inflation, as well as with the illness of their president, Hugo Chávez,
who is undergoing cancer treatment, they are unlikely to be overly
concerned about a change to a conservative government in Spain.
The majority of Latin American governments are paying close attention to
the economic crisis unfolding in Spain, which could have political as
well as financial repercussions for them. Between 1990-2010, Spanish
business deals flourished in the region, transforming Spain into the
second-largest investor in the region, after the United States.
Many Spanish companies now see their Latin American affiliates as being
essential to their survival. For example, more than 35 percent of Banco
Santander's operations are located in Brazil and more than 50 percent of
BBVA's holdings are located throughout the region. Repsol's Argentinean
affiliate, YPF, is responsible for 40 percent of the oil giant's profits.
Managers at some of Spain's transnational companies say they want the
new government to keep these figures in mind, as well as the importance
of the investments already made in Latin America because, as they say,
it is not about the region but rather helping the Spanish economy to grow.
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