Thursday, May 3rd 2012 - 07:39 UTC

US and EU concerned with “investment climate” following Bolivia’s seizure of Spanish power company

Bolivian President Evo Morales Government’s decision to nationalize the main power transport company that was in hands of Red Eléctrica Española (REE) generated claims from Spain, while United States and the European Union showed their “concern.”

Spanish minister Luis de Guindos criticised the move but said Bolivia had guaranteed compensation

The US government showed its “concern” over the decision announced by the Bolivian President to expropriate the REE shares of the power transport company Transportadora de Energía (TDE) and considered it “tarnishes the investment climate” in the country.

“We are concerned for the Bolivian government decision to nationalize TDE, which comes shortly after the Argentine announcement (to expropriate YPF),” US State Department spokesman Mark Toner assured during a press conference on Wednesday.

Similarly, the European Union expressed its concern. “The European Committee is worried about the decision of the Bolivian government to nationalize TDE, and is closely following the situation,” John Clancy, spokesmen of the trade bloc, said during the daily press conference held at the European Committee headquarters.

Brussels considered it as a negative move: “actions like these send a negative signal to the international investors over the investment climate in Bolivia,” it stated.

Meanwhile, he expressed Brussels is confident that “Bolivian authorities will respect the investment accords with Spain and guarantee a rapid and adequate compensation for this expropriation.”

Speaking in Brussels Economy Minister Luis de Guindos criticised the move by Bolivia, but said the country had guaranteed Spain compensation.

”The Spanish government does not like these sorts of decisions as we believe it's fundamental to maintain legal security when investing in countries like Bolivia”.

The nationalization could not come at a worse time for the Spanish government, the owner of 20 percent of Red Electrica, as it faces a recession, mass unemployment and investor concerns it will be the next Euro zone country to need a bailout.

30 comments Feed

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1 Max (#) May 03rd, 2012 - 09:06 am Report abuse
Very simple that every country want to use their own “ self determination ” rights.
2 Ken Ridge (#) May 03rd, 2012 - 10:59 am Report abuse
Including the Falkland Islanders.
3 British_Kirchnerist (#) May 03rd, 2012 - 11:42 am Report abuse
I always knew Morales was a good guy (even when all the usual suspects here were, bizarrely, praising him in relation to Cristina!)
4 Chicureo (#) May 03rd, 2012 - 12:15 pm Report abuse
Kill the golden goose and steal the eggs...
...Oh, but Bolivia is investing in its own space industry... (not fiction)
Eventually they will need someone and it will be more increasingly expensive to do so, although China is at the door with its tail wagging...
5 Idlehands (#) May 03rd, 2012 - 12:18 pm Report abuse
“Self determination” seems to have lost it's meaning to South Americans.

It's become another snappy but meaningless phrase to them. This article has nothing to do with self determination.
6 LEPRecon (#) May 03rd, 2012 - 12:35 pm Report abuse
No one is against self determination (except the usual suspects the malvanista's and other assorted argtards), but their is a difference between nationalising a company and stealing a company.

In the last few weeks both Argentina and Boliva have 'stolen' companies that belong to the Spanish.

It seems to me that you are all hell bent on burning all your bridges and connections to the mother country and flouting international law and business practices.

That's fine, that's your respective countries perogative, but don't expect a happy ending when the international community stop playing nice and start getting serious. As always the ordinary people will suffer for these insane policies.
7 GreekYoghurt (#) May 03rd, 2012 - 02:06 pm Report abuse
@6 Lack of morality is in their DNA and supported by their culture, so theft is normal behaviour for them. They're sadly trapped in this cycle by both nature and nurture. Prevarication is another key facet of an Argtard.
8 Uruguayan (#) May 03rd, 2012 - 02:35 pm Report abuse
Rich countries are 'nervous'...they need to know that an equal world is coming, bad things and good things happen in USA, EUROPE and EVERYWHERE... thanks
9 Chicureo (#) May 03rd, 2012 - 02:57 pm Report abuse
Do you notice that“Uruguayan” has the same writing style as “GUZZ”?
10 GreekYoghurt (#) May 03rd, 2012 - 03:13 pm Report abuse
@9 Do you notice that people (La Campora) who distort their reality typically hold onto similar façade traits, such as claiming to be Uruguayan? Oh wait, that's Guzz again.
11 Uruguayan (#) May 03rd, 2012 - 03:19 pm Report abuse
I will only participate in this e newspaper with quality discussions and debate. I am so sorry Chicureo and Greekyoughurt but you are confusing people here, regards.
12 GreekYoghurt (#) May 03rd, 2012 - 03:26 pm Report abuse
@11 Don't worry Guzz, confusion is another sign of dealing with pathological behaviour. This is normal for La Campora folk, like yourself.
13 Chicureo (#) May 03rd, 2012 - 04:09 pm Report abuse
Agreed: Same sentence syntax structure and illogical thought placement of what he’s attempting to ineffectively state as a denial of being La Campora folk...

GreekYoghurt: Do you know the address to send ammunition to Conqueror?
(When not using their Khukuri knives , Gurkhas like to use hollow points, but whatever Conqueror wants...)
14 ChrisR (#) May 03rd, 2012 - 04:14 pm Report abuse
9 Chicureo

I wondered what was familiar about that crap! I think you are correct.

This 'Marine Engineer' whose qualifications could not get him into the Institute of Marine Engineers in the UK: most of his cohort are out of jobs and advertising in LinkedIn, is not Uraguayo. That much is clear.

Looks like I migh be banned with you and GreekYoghurt after this! Good company then. :o)
15 Chicureo (#) May 03rd, 2012 - 04:37 pm Report abuse
#14 Yes, and if I have to go down with the ship, let it be with those who are right.
16 Brit Bob (#) May 03rd, 2012 - 07:08 pm Report abuse
Although an attractive proposition in the immediate term, nationalization does not work. You end up with too many employees, too much bureacracy and endless govenment interference and as a result the industry stagnates and fails. This is why the Russians and Chinese denationalized.
17 Chicureo (#) May 03rd, 2012 - 07:09 pm Report abuse
So did Argentina and now they're doing it again. Never ending nightmare...
18 GreekYoghurt (#) May 03rd, 2012 - 07:25 pm Report abuse
@16 The issue then is that it develops an ingrained 'civil service' culture where people don't lose jobs, pensions are massive, it's all comfy and like in the real civil service no one actually does any work, because ultimately no one is accountable.

This has happened in PEMEX the mexican state oil company, PDVSA the Venezeulan state oil company and the same will happen to YPF.
19 zulu99 (#) May 03rd, 2012 - 08:23 pm Report abuse
@9 I believe you're right. He's shown himself as a total numbskull on numerous occasions as Guzz. So, now he's embarrassed and is using a new name. Give him a week or two to make himself look like a shithead again and we'll see a new name. You go girl!!!
20 British_Kirchnerist (#) May 03rd, 2012 - 10:42 pm Report abuse
#4 ”...Oh, but Bolivia is investing in its own space industry... (not fiction)”

And why not? Must they be down forever?
21 Chicureo (#) May 03rd, 2012 - 11:08 pm Report abuse
Simple logic: A third world country (I've been there.) that lacks basic services of health, education and sanitation that is controlled in areas by the drug lords who treat their coca growers relatively well, but are a cancer to the country. They have enormous natural resources to develop, but are hindered by their own society.

And Evo Morales is starting a space program.... check out the literacy rate of the country! Get real #20
22 Uruguayan (#) May 04th, 2012 - 12:31 am Report abuse
As I said in my previous intervention, the so called 'first world' must come into terms and start negotiating and follow clear rules with everyone. I am not going to waste time writing about how good or bad is Britain, Europe, etc as everywhere there are good and not so good people....thanks.
23 British_Kirchnerist (#) May 04th, 2012 - 01:02 am Report abuse
#21 He's dealing with poverty too. Unlike your pals who think the poor should always stay poor
24 Chicureo (#) May 04th, 2012 - 01:37 am Report abuse
#23 Truthfully, I absolutely am for reducing the misery and poverty of the millions who live here in SA by promoting respect for human dignity, basic health care, access to clean water, public sanitation, basic education... the list is endless...
Through economic development - fair trade - a lessening of corruption, we can achieve positive change.
25 Guzz (#) May 04th, 2012 - 02:54 am Report abuse
Don't get in discussions with Chicureo and GreekYogur, it's a tactic they use, them two, together with Yanqui and el Pistolero Conquistador will start telling you that you aren't Uruguayan and start abusing you. If you get upset and abuse back, the beehive queen will judge you. Hence you will be defined as a troll.
Don't interact with them.
26 British_Kirchnerist (#) May 04th, 2012 - 03:06 am Report abuse
#24 I agree with all of that, but something also has to be done about the oligarchies and imperialist interests that have held these countries back
27 Uruguayan (#) May 04th, 2012 - 01:39 pm Report abuse
Thanks for your advise Guzz, will take that into account for future interventions. Best regards to you, Cesar.
28 Chicureo (#) May 04th, 2012 - 02:32 pm Report abuse
Argentine fishermen are 'dining on our dolphins' caught illegally in the Falklands Islands waters

Animals being 'hauled on board trawlers after becoming trapped in nets in Falklands Islands waters' -Wildlife experts believe fisherman are slicing fillets before throwing bodies back into the sea
PUBLISHED: 4 May 2012 |

Callous Argentine fishermen are eating steaks carved from dolphins which have been illegally caught in the South Atlantic Channel, conservationists claim.
Experts believe the animals are being hauled on board trawlers after becoming trapped in nets off the Falklands Islands waters.
Fillets of flesh are then sliced off to be eaten before the bodies of the highly intelligent mammals are callously tossed back into the water.

Threat: Common dolphins seen off the Falklands coats. Wildlife experts have accused Argentine fisherman of eating the animals
Since the beginning of January, Falklands Wildlife Trust's Marine Strandings Network has examined and recorded 50 dead dolphins and porpoises. Just under half, 23, showed distinct signs of having died in fishing gear.

A common dolphin, examined on the beach at in early April, one of five discovered in the same week, showed scars typical of a large trawler net from which it presumably tried to escape. A spokesman for South Atlantic Wildlife Trust said: 'A large fillet of flesh had been removed from the back - presumably for eating. 'This is a known practice on Argentine boats and Argentine pair trawlers were working close to the Islands waters at the time. 'The dolphin's tail had been cut off in the course of cutting the animal free from a winch strop which was used to lift it over the side of the boat.
29 row82 (#) May 04th, 2012 - 06:50 pm Report abuse

Please like this page in order to force Argentina to return Misiones and Formosa Provinces to Paraguay, the country they were stolen from in 1870!

Misiones and Formosa Provinces are provinces of Argentina that were seized and annaxed by Argentina from Paraguay this page is dedicated to address Argentine hyporcacy and ensuring their return to Paraguay.

It's only right that Argentina first addresses its own hyocracy by re-examining its own history before talking about taking more land it has never had soverignty over. Not just the Falklands but South Georgia and the South Sandwhich Islands.
30 Marcos Alejandro (#) May 10th, 2012 - 03:08 pm Report abuse

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