The concept of a Latin American union has been a long-standing idea, but recent advocacy from the continent's leading political figures for economic and political integration has reignited a debate in the region as to its feasibility and desirability. The impetus behind such advocacy includes bolstering economic connections, enhancing global standing, increasing regional autonomy, and collaboratively addressing modern challenges such as pandemics, climate change, and social inequality. This comment will explore the history of efforts to integrate the region, analyze the promises, challenges, and implications of establishing a common market and a common currency as documented in the creation of the European Union, and ultimately argue that the region does indeed need a unified market culminating in the establishment of a shared currency.