Skip to comments.US warns Bolivia that nationalisation of Red Electrica company will damage investment
Posted on 05/02/2012 10:03:54 PM PDT by bruinbirdman
The US has warned Bolivia that its nationalisation of Spanish energy firm Red Electrica's local grid will damage the country's investment climate.
The Bolivian President, Evo Morales, seized the Red Electrica subsidiary on Tuesday, just 15 days after Argentine President Cristina de Kirchner announced the expropriation of Spanish oil giant Repsol's YPF subsidiary.
"This comes on the heels, obviously, of the Argentine announcement," State Department spokesman Mark Toner told reporters.
"We are concerned by the Bolivian government's decision and announcement to nationalize the Spanish-owned electricity company.
"These actions against foreign investors really dampen the investment climate in Bolivia, in Argentina, in wherever. So that's our concern."
Bolivia's move sparked fears that other Latin American governments, especially those facing elections, could follow suit, and led to a warning from Europe that world investment may be affected.
Mr Morales said he had issued a decree nationalising Transportadora de Electricidad (TDE), and taking control of 99.94pc of the company, which is a subsidiary of the Spanish group Red Electrica Corporacion.
Accusing Red Electrica of underinvestment in TDE, Mr Morales said
(Excerpt) Read more at telegraph.co.uk ...
“US warns” but never acts. Especially when it’s the liberals doing the warning.
Seems kind’a funny coming out of the communistic soetoro administration.
The Obammunist, winking, "Comrade Morales, of course this is for show. I will have more flexibility after the election."
I have one of my balls in each of these cups. Salute!
Morales don’t need no stinkin’ investment. The country’s going to live from the income of the cocaleros, remember?