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Bolivia seizes Spanish owned power company, but promises fair compensation

Wednesday, May 2nd 2012 - 05:07 UTC
Full article 37 comments

Bolivian President Evo Morales announced on Tuesday the expropriation of Spain’s Red Eléctrica Española (REE) shares at a power transmission company in Bolivia and ordered the Army to take over the firm's headquarters. Read full article

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  • Guzz

    Kick them all out :) Bloody parasites that does no good for anyone but themselves...

    May 02nd, 2012 - 08:18 am - Link - Report abuse 0
  • GeoffWard2

    So, Argentina and Bolivia having set the ball rolling, the developed industrialised world progressively withdraws, the bottom falls out of the errant nations' economies, and the dark ages return to much of South America.
    But please, Brasil, do not go down this road. You are the great hope for the continent and the world.

    May 02nd, 2012 - 09:52 am - Link - Report abuse 0
  • lsolde

    Clearly Guzz is not a capitalist.

    May 02nd, 2012 - 10:04 am - Link - Report abuse 0
  • Guzz

    @2
    What exactly do you think those multinationals bring to our countries? Or indeed to their “mother” countries?
    And for your information, Brazil is with us, as Chile will be after their elections aswell. Only country that is in your grip is Colombia, strangely the biggest producer of narcotics (strange thing the rest of the SA countries can deal with that issue having reduced military, and Colombia can't, having 7 US military bases installed in the country, don't you think?)

    May 02nd, 2012 - 10:44 am - Link - Report abuse 0
  • ChrisR

    4 Guzz

    Why do you have to be a complete idiot all the while, and yet you claim to be Uruguayo?

    Uruguay is the beacon of how to do it right for LatAm as far as the economy is concerned.

    It has enough sense to distance itself from the actions of this two-faced twat with his cow-pat hairstyle. Nationalizing electicity transmission one day while “inaugurating a new Repsol Plant” on another day.

    The electricity distribution company 'only' invested 5MU$D per year! But this idiot never had to pay a pesos or whatever Micky Mouse money they use in Bolivia (the Bolivar is it?) while the Spanish were running it.

    Will Bolivia 'invest' more than 5MU$D per year itself - don't make me laugh.

    May 02nd, 2012 - 12:06 pm - Link - Report abuse 0
  • GreekYoghurt

    We're watching Latin America descend into the dark ages. It's going to be fun, so let's all get pop-corn and sit and watch.

    May 02nd, 2012 - 12:10 pm - Link - Report abuse 0
  • Guzz

    @5
    I agree that Uruguay is doing great economically, and the pure reason is that we have no natural resources that are worthwhile taking for foreign multinationals. Furthermore, we are extremely dependant on Brazli to the north and Argentina to the south, as one of our mayor income is tourism.

    So, to answer your question, we are not one nation standing alone, we are a part of a continent that, if we want to prosper as one, needs to fight together.

    If you understand spanish, listen to Jose “Pepe” Mujicas speech in the last Mercosur meeting, he can't stress it out enough, the fact that the only way to be competitive in the future, is to stop talking aas nations and start talking as a continent. I obviously agree on that, and so does 60% of the uruguayans, so if you want to play us against eachother, that's not going to work :)

    May 02nd, 2012 - 12:25 pm - Link - Report abuse 0
  • Chicureo

    #5 “Why do you have to be a complete idiot all the while, and yet you claim to be Uruguayo?”

    (Complete idiot = he is. - Uruguayo = He's not.)

    One thing that's certain is that the Uruguayans I know are actually very alarmed with Argentina's irrational behavior as their economy is closely linked. The impending collapse of the Argentine Peso will have very negative effect on their country. Whoever succeeds Mujicas will hopefully seek to diversify away from the dependency and embracing the service industries to develop the oil boom in the Falklands would be a perfect economic motor to do so. Britons, as soon as the airfreight service opens, should strongly support the Uruguayan economy. (For example: Tannat wine should replace the all the medium priced Malbecs at Tesco.)

    May 02nd, 2012 - 01:14 pm - Link - Report abuse 0
  • GreekYoghurt

    @8 I think he's just embarrassed to be argentinian. It's not surprising really given their genetic predisposition towards being morally vacuous.

    May 02nd, 2012 - 01:18 pm - Link - Report abuse 0
  • Guzz

    @8
    Bloody don't touch our Tannat! Drink your own fermented fruit.
    As it is now, there's a 60-40 in favour for the Frente Amplio winning the elections, but that is only if Mujica would have been able to be electable. As Uruguays constitution says no president can be elected twice in a row, the option would be Danilo Astori, although I personally would root for Lucia Topolansky, Mujica's wife :)
    You really want me to be argentinian, and you know why? I tell you why, because my little country is morally better than any of yours. We are succesful in football, economics, diplomacy, production and we drink the best wine of all of you :) Add that to the fact that we are a bunch af orejanos, and you can't stand it :)

    May 02nd, 2012 - 01:32 pm - Link - Report abuse 0
  • GreekYoghurt

    @10 Here Freud would suggest you're using the pathological defense mechanism of distortion. However, I'd personally suggest that you're using a combination of dissociation and identification in order to reinforce your own perceptions of being not-argentine.

    Interesting stuff.

    May 02nd, 2012 - 01:38 pm - Link - Report abuse 0
  • Chicureo

    #9 GreekYogurt:

    I would like to take him somewhat seriously, but to do so would affront his wretched intelligence.

    In his last statement, he's proven beyond a doubt that he's not from the República Oriental del Uruguay. (If you read into his foolishness, one quickly realizes the dim-witted contradictions.) Sadly, he's living with his mother in some wretched hovel lashing out with anyone that speaks negatively about Cristina. (I imagine she’s the mother he fantasizes he had, and perhaps he pretends to be his alter ego Maximo by eating soy oil creampuffs all day long dreaming of these delusions.

    May 02nd, 2012 - 02:12 pm - Link - Report abuse 0
  • Guzz

    Look, you two dimwit seers, no matter how much you lick my countrys arse, we don't like you :)

    May 02nd, 2012 - 02:27 pm - Link - Report abuse 0
  • GreekYoghurt

    @12 You're right. He probably has fantasies about himself, Maximo and a whole bath full of cream buns.

    Kind of sad really.

    May 02nd, 2012 - 02:33 pm - Link - Report abuse 0
  • Chicureo

    #11 You nailed it. I wonder how many creampuffs he's eaten so far today?

    “Here Freud would suggest [he's] using the pathological [schizophrenic] defense mechanism of [adolescent] distortion... using a combination of dissociation and identification in order to reinforce [his] own perceptions of being not-argentine.”

    May 02nd, 2012 - 02:55 pm - Link - Report abuse 0
  • Fido Dido

    “Clearly Guzz is not a capitalist.”

    Neither is your silly Government of that silly island called the UK that loves to be a crony capitalist by bailing out the banksters (losers).
    It's so much easy to bitch about others rather than paying attention to your own problems. Enjoy more Austerity.

    May 02nd, 2012 - 04:14 pm - Link - Report abuse 0
  • LEPRecon

    @16 - better Austerity than total economic meltdown, which appears to be the preferred method by Argentina.

    I wonder when Argentina and Bolivia signed their mutual economic suicide pact?

    May 02nd, 2012 - 05:52 pm - Link - Report abuse 0
  • Guzz

    @17
    Some ten years ago, together with Brazil, Venezuela, Uruguay, Paraguay, Peru, Ecuador and China :)

    May 02nd, 2012 - 05:55 pm - Link - Report abuse 0
  • ChrisR

    18 Guzz

    Yes, but Uruguay PAID all the debts she owed unlike the Argies.

    Uruguay is very often held up by the rest of the developed economies as the way to handle severe financial crises.

    Guess who is not held up in the same manner, but castigated for NOT paying the monies that are owed? Clue: The Mad Bitch is the 'president'.

    I just hope that Uruguay is not dragged down financially by this bunch of cnuts to the south when the inevitable meltdown of their economy happens.

    BTW Mujica has said, quite rightly, that Mercosur is a failed experiment and requires fixing.

    May 02nd, 2012 - 06:29 pm - Link - Report abuse 0
  • McClick

    I havent read any comments about Bolivia nationalization yet !

    May 02nd, 2012 - 06:36 pm - Link - Report abuse 0
  • Guzz

    @19

    http://m24digital.com/en/2012/04/17/mujica-we-do-not-like-the-arrogance-of-the-rich-europe/

    http://m24digital.com/en/2012/04/17/mujica-we-do-not-like-the-arrogance-of-the-rich-europe/

    Don't tell me what my own president says, I can assure you I know it far better than you...

    May 02nd, 2012 - 07:37 pm - Link - Report abuse 0
  • Malvinero1

    Strange that they complain about Bolivia,sovereign rigth.
    Let see,some of the largest electrical corp of the world,EDF
    Between 2001 and 2003, EDF was forced to reduce its equity capital by €6.4 billion total because of the performance of subsidiaries in South America and Europe. In 2001, it also acquired a number of British energy companies, becoming the UK's biggest electricity supplier
    Until 19 November 2004, EDF was a state-owned corporation, but it is now a limited-liability corporation under private law (société anonyme), after its status was changed by statute. The French government partially floated shares of the company on the Paris Stock Exchange in November 2005,[8] although it retained almost 85% ownership as of the end of 2008
    Électricité de France S.A. (EDF; Electricity of France) is the second largest electric utility company in the world. Headquartered in Paris, France, with €65.2 billion in revenues in 2010, EDF operates a diverse portfolio of 120,000+ megawatts of generation capacity in Europe, Latin America, Asia, the Middle East and Africa
    http://en.wikipedia.org/wiki/%C3%89lectricit%C3%A9_de_France#Organization
    EDF,model originally was copied from Argentina's Agua y Energia Electrica...

    Another one in CAnada
    Hydro One is a holding company with four subsidiaries, the largest being Hydro One Networks. They operate 97% of the high voltage transmission grid throughout Ontario and they also serve 1.3 million customers in rural areas across the province in their capacity as Ontario's largest distribution util
    Hydro One Incorporated delivers electricity across the Canadian province of Ontario. It is a Corporation established under the Business Corporations Act (Ontario) with a single shareholder, the Government of Ontario
    http://en.wikipedia.org/wiki/%C3%89lectricit%C3%A9_de_France#Organization
    So what is the complai? The so called“developed”world,has many State owned corporations..
    So primitive the pro brits in this forum..My God..

    May 02nd, 2012 - 07:54 pm - Link - Report abuse 0
  • The Cestrian

    @22

    The so called“developed”world,has many State owned corporations..

    Yes but we dont fucking steal them though, you cretin.

    May 02nd, 2012 - 08:19 pm - Link - Report abuse 0
  • Malvinero1

    he so called“developed”world,has many State owned corporations..

    Yes but we dont fucking steal them though, you cretin.
    YOu SO stupid cestrian,no you just snap them,like MAlvinas,IDIOT monkey brit!

    May 02nd, 2012 - 08:22 pm - Link - Report abuse 0
  • Guzz

    @24
    Not their fault, it's the result of many generations of living on an island lacking fresh blood to their genes...

    May 02nd, 2012 - 08:28 pm - Link - Report abuse 0
  • briton

    Well
    First Argentina, now its Bolivia, we wonder who will be next to join the this super group of two .
    Nationalising as they go,

    But of more interest, is the fact that they both have picked on poor Spain,
    I wonder why,

    Still, perhaps its time this Spanish orange shows some real juice, don’t you think .lol.

    .

    May 02nd, 2012 - 08:36 pm - Link - Report abuse 0
  • Malvinero1

    Well
    First Argentina, now its Bolivia, we wonder who will be next to join the this super group of two .
    Nationalising as they go,

    See ,how smart we are.....The only one complaining are the outsiders....

    May 02nd, 2012 - 10:31 pm - Link - Report abuse 0
  • lsolde

    @16 FidoDido,
    l am not in the UK, you silly Dutchman.
    @22 Malvinero1,
    l must congratulate you, signor!
    Not one :- AHAHAHAHAHAHAHAHA
    Are you growing up at last?
    @25Guzz,
    Been plenty of recent immigration into both the UK & the Falklands.
    Our gene pool would be quite healthy, hows yours?
    @12Chicureo,
    Señor Think says he knows who is Guzz.
    Another Danish-Argentine?
    Who cares, anyway?

    May 02nd, 2012 - 10:56 pm - Link - Report abuse 0
  • Chicureo

    #28 My gene pool was carefully inbred to achieve the worst of my ancestors nationalities... I do find girls in general from the British Isles to be very attractive. I don't know too much about the posters here except that “Think” could join Mensa and some others are well beyond help. Certainly “Guzz” is not the sharpest knife in the kitchen drawer, nor from Uruguay and certainly not a marine engineer.

    May 02nd, 2012 - 11:26 pm - Link - Report abuse 0
  • Guzz

    No point whatsoever in me getting upset with you 15 morons, I guess I'll drop by from time to time to share some good news and wish you the best of luck :)

    May 03rd, 2012 - 06:46 am - Link - Report abuse 0
  • lsolde

    C'mon Guzz,
    lighten up.
    This is the internet.
    You can be who or what you like.
    lf you are an Argentine, l said “lf”, do you have native Amerindian blood too?
    Nearly every other Argentine on here claims to have it.
    Except Herr Think, of course.
    Hes already told us that hes, Danish or Swedish or............something, it keeps changing.
    Therefore he can't have any native bl..............of course, how silly of me!!
    One of his viking ancestors took a skræling woman, l mean a native indian wife back to, whever he came from.
    So Think probably has native blood too & thus is perfectly entitled to live in Argentina!!
    Like the rest of you with native ancestry.lol♥

    May 03rd, 2012 - 09:34 am - Link - Report abuse 0
  • GeoffWard2

    “What exactly do you think those multinationals bring to our countries? Or indeed to their “mother” countries?” Guzz (#4)

    I know it's tough, Guzz, but few of the great enterprises of the world restrict their activities or their shareholder base to one country.
    This means they are multinationals operating multinationally.

    Their profits do get spent in national economies rather than sitting doing nothing.

    The trick is for a country to avail itself of the essential talents of the multinational to aid the national strategy and development, to bring employment, contract and tax income, and to make it advantageous for much of the profits to circulate within the country.

    Let's see ...... multinationals .....
    oil, gas, minerals/metals, pharmaceutics, vehicles, consumer electronics, shipping, etc, etc, ......

    A country as large as the USA or 'China' could operate with just an internal economy; but why?
    Or a country as small as Iceland or Paraguay might do the same without multinationals and import/export - but obviously at a third world level; but why would it choose this?

    May 03rd, 2012 - 09:39 am - Link - Report abuse 0
  • lsolde

    @32 GeoffWard2,
    l read somewher that in the 19th century, the Austro-Hungarian Empire was almost completely self contained.
    They mostly just traded between themselves within their own empire.
    Also China & Japan tried to cut themselves off from the world too, but of course they couldn't.

    May 03rd, 2012 - 10:06 am - Link - Report abuse 0
  • Brit Bob

    Nationalisation althogh seemingly an attractive policy does not work. It merely creates companies that become ineffective because they have too many employees and too much bureacracy and too much government interference.

    Just ask China and Russia - they denationalised to create leaner more efficient companies.

    May 03rd, 2012 - 07:51 pm - Link - Report abuse 0
  • British_Kirchnerist

    Viva Morales!

    #3 Indeed, nor am I. Are you?

    #19 “president” Do you think she's illegitimate then? Or do you just not respect democracy?

    May 03rd, 2012 - 11:30 pm - Link - Report abuse 0
  • lsolde

    @35B_K,
    A sort of a capitalist.
    Capitalism & investment develope nations, Communism destroys them.
    l believe in free enterprise as long as the law is not broken.
    Hard work getting you where you are, not sitting around waiting for government handouts.
    That why l admire the Jewish & Chinese work ethics.
    l also believe that no one group should ever be allowed to get a stranglehold on a country.
    l got where l am by hard work, now l'm taking it easy.
    Of course we should look after the disadvantaged in our society.
    Thats very Socialist of me!
    But most definitely l am not a leftist!
    Maybe just to the right of centre.
    And you?

    May 04th, 2012 - 09:42 am - Link - Report abuse 0
  • British_Kirchnerist

    #36 Well I think we both agree on having a mixed economy actually, though we may not agree about the exact mix. I would call myself a socialist and a leftist (and I'm glad on anotyher thread you made clear you are no Thatcherite), but I don't think banning all private enterprise a la North Korea is the way to go. But I do think the majority of the people, ie the working people, should politically be in the driving seat, and we should never again get into the neoliberal situation where banks can gamble the economy to the brink of disaster

    May 04th, 2012 - 02:42 pm - Link - Report abuse 0

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