What were the conditions behind the Latin America revolutions?

To me, there were two major conditions that allowed the
revolutions in the Latin American countries to occur.  One condition had to do with
things that were internal to the countries, the other had to do with
Europe.

Internally, the major issue was the discrimination
faced by the creoles.  They were ethnic Spaniards who were born in the colonies.  They
felt they were as good as the Peninsulares but they were excluded from important offices
and positions.

The other issue was the weakening of the
Spanish monarchy.  This came to a peak in the early 1800s when the Spanish monarchy was
actually overthrown by Napoleon.  This caused some amount of chaos and a severe decrease
in the loyalty felt by the colonists towards Spain.