Saturday, November 1, 2008

Ecuador news roundup

Rafa seen out with Bina last weekend

Let's all feign surprise: The US Central Intelligence Agency had "full knowledge" of the deadly Colombian raid March 1 on a FARC rebel camp inside Ecuador that led to a rupture in ties between Bogota and Quito.

Crisis what crisis? Ecuador's FinMin sez the country will grow 4% to 5% in 2009. Otto sez "believe that one when I see it".

The much delayed mining law is going to the lawmakers next week. Word is that Ecuador is now treating the matter as "a priority", but that word needs more than just a literal translation when transferring it from latino to anglosaxon mentality.

As for the oil sector, Studmuffin keeps on playing the hardball. The latest target is Repsol (REP) of Spain and he says that because REP and Ecuador can't come to an agreement on its local production it's end-of-contract-adios-amigos time.

But I've saved the best til last: Studmuffin got his dos centavos in about the world financial collapse and I agree with everything he said on this one.

"One of the few good things to come out of this crisis is that we don't have to put up with those yuppies of Lehman Brothers, Standard & Poors and JP Morgan. When I was minister, it was unbearable to have a line of those kids asking for an appointment so that I could do their job. They'd ask you for your analysis and then present it in a report as if were their own."

YAY....you still rock, Rafa.