MercoPress. South Atlantic News Agency

South America News.

Blair ideologist in Buenos Aires.

Sociologist Anthony Giddens, the brains behind British Prime Minister Tony Blair's "third way" proposition, declared in Buenos Aires that "capitalism with social justice" is a valid goal for Mercosur country members. During a conference in the British Embassy in Buenos Aires, Mr. Giddens who is Dean of the London School of Economics said that the purpose of the third option is "to legitimise public institutions and the role of government, without leaving the world abandoned to free markets".The only possible reply is a "fair economic development" and a community that expresses "solidarity, protectiveness and is inclusive". Giddens who was named Doctor "honoris causa" by the Buenos Aires University indicated that globalisation can't be left solely to markets, we need a "fair balance between government, markets and the civil society", and this can't be achieved by the traditional left nor the right wing economic liberals. Mr. Giddens also suggested that emerging countries keep close track of the "new European social model" that is based in "labour flexibility, capital flow and workers protection".

The worst still to come.

At least seven people are dead and approximately 15.000 have been left homeless following the last rain and wind storm that struck Chile in an 800 miles long front all the way from Coquimbo in the north to Puerto Montt. Pouring non stop rain for hours, plus snow storms in the Andes caused floods, mud slides and chaos in Santiago and other cities, leaving hundreds of vehicles stranded, roads cut and mountain passes blocked. The Chilean National Emergency Office reported that at least seven Regions had suffered blackouts, transport and communication interruptions, but also warned that "the worst is still to come". Weather forecasts indicate that the adverse conditions will intensify peaking out next Sunday.

Jumbo investment in Neuquén.

Repsol-YPF, the Spanish-Argentine oil consortium will be investing eight billion US dollars during the next 17 years in the hydrocarbons rich province of Neuquén, of which 3,5 billion in the coming five years. The investment agreement was signed in Madrid, Spain, betwe