What next?
posted on
Jul 02, 2008 10:41AM
The company whose shareholders were better than its management
Reading Ecuadorian newspapers causes me at times to shake my head in dismay. I realize that the Google translator often creates, not only eye strain, but brain strain as well.
Over the last couple of weeks I get the feeling that politically and economically, Ecuador is a country that is becoming more and more dysfunctional. I hope, not just for the sake of investors like us, but for all Ecuadorians, that somehow within the next six months the leadership will get their act together. I believe that if some stability is not accomplished during that period, then the window of opportunity will be closed for some considerable period of time.
Even those of the Constituent Assembly that are part of the minority opposition cannot agree. I note that Alfredo Ortiz and Mae- Montano are resigning from their party, RED, ( what that is an acronym for I don't know). RED was or is allied with the Patriotic Society Party, (PSP). They will now apparently sit as independents. Marthe Roldos, who I believe was an associate of Acosta is resigning as the head of some Steering committee. What the implications of these current events will have on the work of the CA I don't know.
Riding this Constitution through roughshod has implications of disaster further down the road. Some newspaper articles tend to portray Rafael Correa as someone who has an extremely short fuse and a tissue thin skin, not the recommended attributes of a successful politician. He seems to shoot first (his mouth that is) then think later.
I note that today the Constitutional Court was busy declaring certain articles of the Board of Foreign Trade and Investment as illegal. After the 26 July, what happens to the Constitution prior to ratification? Does it have to be wrung through the Consttutional Court? or is there another body besides the Court and Consttutional Assembly that has jurisdiction over the final document.
None of this makes me feel easy, even if and when they do publish the new Mining Law. These folks seem to spend a considerable amount of their time calling one another outlandish names. I know that that is part of all political grandstanding no matter where. However the rancor displayed by those people goes above and beyond the norm. It gets a little disheartening at times.
Mind you as I stated in the begining of this mini diatribe, most of my conclusions have been reached from articles that have been squeezed through the Google Translator.