Latin America pledges support for Iberia, warns on austerity

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CADIZ, Spain (Reuters) – Latin America on Saturday pledged investment opportunities for recession-hit Spanish and Portuguese companies but warned its former colonial masters drastic cost cutting would only deepen their misery. Spain’s Prime Minister Mariano Rajoy (R), Panama’s president Ricardo Martinelli (L) and Ibero-American Secretary-General Enrique Iglesias leave a news conference during the Ibero-American Summit in Cadiz, southern Spain November 17, 2012. REUTERS/Jon Nazca The economic plight of Iberia dominated a two-day summit of leaders from Spain, Portugal and Latin America in the…

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Spain's Rajoy says EU budget proposal unacceptable

CADIZ, Spain (Reuters) – Spanish Prime Minister Mariano Rajoy said on Saturday that a draft European budget was unacceptable. The proposed seven-year budget would turn Spain into a net contributor to the EU for the first time by cutting aid and subsidies. European Union chief Herman Van Rompuy proposed a […]