Latin America’s unemployment rate is falling down continuously as compare to the year 2011. This rate has been fallen down at its lower point, 6.8 percent which was 8.5 percent in the United States and nearly 10 percent in Europe in the past year. While economic growth has slowed in some countries, it is still booming in others. Panama, whose canal is choked to capacity, registered economic growth of 10.5 percent in the first nine months of 2011. Argentina’s economy expanded 9.3 percent in the third quarter.

But in 2012, here is the new mood more obvious than in Brazil, which recently passed Britain as the world’s sixth-largest economy. In spite of some recent economic weakness, Brazil’s unemployment rate is at a historic low of 4.7 percent. Veja, a leading newsmagazine, celebrated in a cover story this month the creation of new millionaires at a rate of 19 a day. By some measures, São Paulo’s financial sector is the envy of Wall Street: The market value of one bank, It, now exceeds those of Goldman Sachs and Morgan Stanley combined.

The recent economic crises, market crashes and coming out of millions of people from dire poverty, not only in Brazil but also in neighboring countries, is encouraging some in Latin America to hit back at those who used to dispense advice to the region so freely.

The anxiety which had been witnessed on a expedition to Brussels reminded him of the early 1990s, when there was the Venezuelan planning minister trying to overcome the kind of economic quagmire that plagued many Latin American countries for much of the 1980s and 1990s.

A long series of crises changed that, and Argentina experienced a frightening financial collapse just a decade ago. Since then, thanks partly to soaring commodities prices, economic growth has outstripped even that of neighboring Chile, whose market-friendly policies are often held up as a model.

For many months now, Latin Americans have been monitoring the constant drumbeat of crises in developed countries with bewilderment, irony and, yes, even a bit of it. To them, Europe and the United States are displaying problems once associated with their region, which, not long ago, was a perennial champion in financial crises and bailouts.

Germany, Europe’s dominant economic power, gave the strongest signal yet that it would allow the roughly 250 billion Euros left in the temporary rescue fund to be tapped once the permanent fund is set up. Such a step would boost Europe’s unspent crisis-fighting capacity to around 750 billion Euros. In addition, 150 billion Euros would be pledged by euro-area central banks to the IMF.