kito

Ecuador: Chronicles of a Default Foretold

boy oh boy, you really should check your facts before throwing out bold statements like, "the damage is done" when referring to the ecuador/brazil dispute. did you overlook the recent meeting between ecuadorian foreign minister falconi and brazilian ambassador marques, where they agreed to "strenghten" their bilateral ties? the dispute between the countries was resolved and has done no harm to the latin american relations.

such an impossible scenario, that the banks, those beacons of stability, fiscal responsibility and fairness, coerced a small desperate nation into unfavorable terms during their restructuring. the only magical realism is the idea that our banks have any credibility whatsoever.

the "investors" that will shy away from ecuador will be the ones who can no longer unfairly manipulate the country and its policital/judicial system to their advantage.

Ecuador's Idiotic Default

i know, what a proposition, that large american financial institutions manipulated (a gentle verb) the system to their advantage, in collaboration with previous leaders of ecuador who could care less about their constituency.


On Dec 16 09:43 AM David Fry wrote:

> Oh, sure kito, Ecuador is a victim. Too laughable.

Ecuador's Idiotic Default

funny how you do not mention ecuador's position regarding the default. your naive assumption is that no manipulation/wrongdoin... occurred in the process of issuing these bonds. correa, who is a u.s. trained economist with a phd, has stated very clearly that he is defaulting on the bonds not because its "idiotic" as the author puts it, but because there is clear evidence of irregularities behind the issuance of the bonds. if it is proven that coerscion by large corporate buyers played a role in the terms of the bonds, maybe it wont be so one sided in favor of the bondholders.

Ecuador Default: Sell Into Simon Bolivar's South America

check your facts. correa of ecuador has not nationalized any industry. he has certainly renegotiated contracts, giving companies fees for extraction of resources, as opposed to a share of the resources themselves. but he has not nationalized mining, oil, telecom, or any resource or industry. your attempts to lump him in with chavez, castro and moreales is misguided and misleading to your readers. correa is not a bolivarian as you portray him. the recent creation of a new constitution in ecuador clearly demonstrates moderate policies and ideals, not a socialist or "leftist" one that mainstream media loves to portray. in fact many social and environmental groups in ecuador are at odds with him. the fact that correa is protecting his country's interest (as the u.s has done and will continue to do) doesnt make him a leftist or a bolivarian.