*The Bolivian Workers Central/COB (Central Obrera Boliviana) and many left groups support the nationalizations in Bolivia but in many instances they have not been completed and done half way and the details of the current one are still being worked out, the the COB and many workers are still seeking wage increases and there are other struggles by workers and indigenous groups that center around the economy,their rights and control over the natural resources but there should be no compensation for these nationalizations and the money from the compensation should be spent on salaries, more and better housing, health and education for all in actuality not just written the Constitution and the strengthening of the nationalized companies in Bolivia.* ** *Cort * ------------------------------------------
*President Morales' announcement on his plan to nationalise TDE came just hours before he and the boss of Spain's Repsol opened a natural gas plant in the south of Bolivia.Spain's economy minister, Luis de Guindos has expressed disappointment with Bolivia's nationalisation of a Spanish-owned electric power company and warned it could deter investment, but also stressed Bolivia had agreed to pay compensation. President Evo Morales reason for the takeover of REE's Bolivian subsidiary was because it had not invested enough in Bolivia. * ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- *Michael Shifter, president of the Washington based inter-American Dialogue, called Morales the poster child for multilateral financial institutions.* http://blogs.ft.com/beyond-brics/2012/05/02/morales-not-as-radical-as-you-think/ Morales: not as radical as you think May 2, 2012 10:11 pm by Naomi Mapstone<http://blogs.ft.com/beyond-brics/author/naomimapstone/> 21<http://www.facebook.com/sharer/sharer.php?u=http%3A%2F%2Fblogs.ft.com%2Fbeyond-brics%2F2012%2F05%2F02%2Fmorales-not-as-radical-as-you-think%2F&t=Morales%3A+not+as+radical+as+you+think+%7C+beyondbrics+%7C+FT.com+> 0<http://blogs.ft.com/beyond-brics/2012/05/02/morales-not-as-radical-as-you-think/#respond> <http://blogs.r.ftdata.co.uk/beyond-brics/files/2012/05/Evo-morales.jpg>Is Bolivian president Evo Morales the poster boy for Latin Americas extreme left? Or for orthodox macroeconomic management? Morales, a charismatic former coca union leader who swept to power in 2006 on promises to rebalance centuries of inequality, can do fiery rhetoric as well as his leftist allies Rafael Correa of Ecuador and Hugo Chavez of Venezuela. But just as Morales swapped his bobbly batwing jumpers for tailored suits with an indigenous fabric trim, has he taken a more conservative line when it comes to Bolivias bottom line? Many economists would say yes. Bolivias economy grew at 5.1 per cent in 2011, and after six years of fiscal surplus had built up $12.1bn in international reserves. And for the first time in 1920, it is preparing a bond issue of up to $500m<http://www.ft.com/intl/cms/s/0/158b5eea-710d-11e1-a7f1-00144feab49a.html#axzz1tjYHojkT>to help Morales further his industrialisation agenda, particularly in building a lithium processing plant, food processing and hydroelectricity. This last is more important than ever considering the parlous state of electricity provision in Bolivia. This and the May Day expropriation of Red Electrica of Spains assets<http://www.ft.com/intl/cms/s/0/8b563a14-93b3-11e1-8c6f-00144feab49a.html>means the government will now be carrying the can for energy rationing and steep consumer prices. In an interview with the FT, Michael Shifter, president of the Washington based inter-American Dialogue, called Morales the poster child for multilateral financial institutions. Certainly here in Washington Bolivia is seen very favourably in terms of its economic management and showing discipline, Shifter said, adding that Morales, unlike Cristina Kirchner in Argentina, knows he cant afford to completely turn off foreign investment. I think Morales is going to be careful to try to at least accompany this measure with at least sending the message privately that foreign investment in the country is still welcome. Because without foreign investment the country is going to have a hard time growing and if the country doesnt grow he is going to have difficulties. Morales May Day antics are certainly bad news for Red Electrica, and for Spain, but no one could say they were shocked. Just as social protests such as the one that has paralysed Newmonts $4.8bn Conga gold and copper project are accepted as a leading risk of doing business in Peru, and corruption a major consideration in Argentina, nationalisation has been a factor in Bolivia since 2006. And while Morales may have quietly restored diplomatic relations with the United States and prudently managed the economy, he will continue to demonise American interests in speeches from the presidential palace, and seize the occasional foreign asset even if lately those assets are smaller and in less strategic sectors. Morales is courting international investors, but its a backroom courtship that wouldnt do his image much good on the home front. Inflammatory rhetoric and nationalisations are still very much vote-winners in one of Latin Americas poorest nations, where Morales political base, the indigenous majority, have for generations got the fuzzy end of the lollipop. *Related reading: *Bolivias leader makes a power point<http://www.ft.com/intl/cms/s/0/336b8c90-947c-11e1-bb0d-00144feab49a.html>, beyondbrics Latin American nationalisation dominoes<http://blogs.ft.com/the-world/2012/05/latin-american-nationalisation-dominoes/#axzz1tXMH6GIa>, FT Red Eléctrica: power outage<http://www.ft.com/intl/cms/s/3/afc2b7d2-945e-11e1-bb0d-00144feab49a.html>, Lex Spain in LatAm: not flying so high<http://blogs.ft.com/beyond-brics/2012/05/01/spain-in-latam-not-flying-so-high/#axzz1tXMH6GIa>, beyondbrics Bolivia: Watch out for May 1st<http://blogs.ft.com/beyond-brics/2012/05/01/bolivia-watch-out-for-may-1st/#axzz1tXMH6GIa>, beyondbrics [Non-text portions of this message have been removed] ------------------------------------ --------------------------------------------------------------------------- LAAMN: Los Angeles Alternative Media Network --------------------------------------------------------------------------- Unsubscribe: <mailto:[email protected]> --------------------------------------------------------------------------- Subscribe: <mailto:[email protected]> --------------------------------------------------------------------------- Digest: <mailto:[email protected]> --------------------------------------------------------------------------- Help: <mailto:[email protected]?subject=laamn> --------------------------------------------------------------------------- Post: <mailto:[email protected]> --------------------------------------------------------------------------- Archive1: <http://www.egroups.com/messages/laamn> --------------------------------------------------------------------------- Archive2: <http://www.mail-archive.com/[email protected]> --------------------------------------------------------------------------- Yahoo! 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