Spaniards are Latin, we are Latineuropean.
To be a latin person doesn't mean to be black, indian or another, because to be latin is a CULTURAL IDENTITY, not a race.
Besides, Hispanic is the adjetive for Hispania, and Hispania was the ancient roman name for the Iberian Peninsula, where Spain and Portugal are located, in the south of Europe.
So, you can be black, white, indio, mestizo, criollo, mulato or whatever and be latino.
And in Spain we are mediterranean whites, quite different from germanic whites.
Latin was the language of the Roman Empire and its origin was the Lazio, a region in Italy. The word Latin is for the culture and language of the Roman Empire. So the first Latin people were the Romans which were in what today is Italy, and they conquered Hispania (Spain and Portugal), Gallia (France), Romania and other countries. The second Latin people is the people of France, Portugal, Italy, Romania and Spain, and the third Latin people is the people of former colonies of all these countries, so it’s a strange thing to say Latinamerica because the Roman never were in the Americas, but nowadays we called Latin people to everybody who speak a language derived from Latin, a neolatin language such as: Spanish, French, Italian, Portuguese, Romanian and others. So nowadays, there are Latin people in countries in Europe, in America, and in Africa, because in several countries in all these continents people speak a neolatin language.
Sources: I'm from Spain, so I´m Spaniard, Spanish, Hispanic, Latino, European and citizen of the European Union and citizen of Spain.