Latin American integration: Peaks and troughs | Regional Geography |

The financial crisis surrounding the Euro has lead many to feel that supranational organizations and regional coalitions are more trouble than they are worth.  The OAS (Organization of American States-which the USA is a part of) may dissolve and the CELAC might be it's successor.  The CELAC's (Community of Latin American and Carribbean States) emergence shows that the United States "is declining in a region it once called its 'backyard.'"  Spain is also diminishing in influence among its former colonies are forging new economic and political ties while Mexico and Brazil are exerting more regional influence.