REPORT: Bolivia Expropriates The Assets Of Spanish Utility CompanyMamta Badkar | May 1, 2012
Bolivian president Evo Morales has said that he will expropriate local assets of Transportadora de Electricidad, a subsidiary of Spanish utilities company Red Electrica Corp, according to Spanish publication El Pais via Bloomberg.
Speaking at a Labor Day event Morales said this would be a tribute to the Bolivian people who have fought for the recovery of nationalized resources, according to ADN Radio.
Morales has reportedly asked the army to protect Red Electrica's local assets as of today.
This comes weeks after Argentina moved to expropriate shares of Repsol-YPF. Morales like Argentinian president Cristina Fernandez de Kirchner said the company had invested very little in Bolivia. more
Tuesday, May 1, 2012
Some of the more criminal of the "privatizations" are being reversed. Most of these assets sales were first performed in small countries with the IMF's gun to the heads of state. The most recent big renationalization was in Argentina. Now it is happening in Bolivia. The fury against the perpetrators of these reversals in the clubs of the international moneychangers must be rocking the rooms. On the other hand, you can almost hear the citizens cheering for Kirchner and Morales all the way to North America.