It looked like the start to another fine year for one of Mexico’s most powerful bankers. Citigroup Inc. Co-President Manuel Medina-Mora held court last month at a Mexico City breakfast where colleagues talked shop over mango, melon and banana. He sat at the right arm of the nation’s president at another February meeting when Enrique Pena Nieto toasted the bank’s drive, charity and influence.
A universal, single-tariff trading system should be pursued to eventually replace regional and bilateral trade accords, including the North America Free Trade Agreement, said Ernesto Zedillo, the former president of Mexico.
European nations, struggling to end their debt crisis, should look at Latin America’s triumph over decades of financial crashes as a blueprint for resolving their woes, said officials at a summit of the world’s biggest economies in Mexico.