01/23/2013 11:51 am ET

Latin America Is Enjoying The Good Times - At Last

There was a time when European economists looked at Latin America with horror. Weighed down by debt, plagued by hyperinflation, and ravaged by unemployment, the region was a financial disaster zone.

Those days are long gone.

As the leaders of Latin America and the European Union (EU) prepare for their seventh biennial summit in the Chilean capital Santiago this weekend, the region is enjoying unprecedented stability and prosperity.

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