Latin America makes itself heard

THERE was a time when one heard little of Latin America. Rising prosperity appears to be coinciding with rising confidence.

This often results in Western values and investments being challenged.

It seems Venezuela’s President Hugo Chavez is never happier than when provoking America; except when encouraging others to do so.

The Brazilian economy has overtaken the United Kingdom’s whilst Argentina keep putting their feet over the line drawn in the sand by London’s Whitehall. Spain is now in the firing line. Hints are being dropped that Spain’s Repsol energy giant, operating under the brand name Repsol-YPF in Argentina, is not investing enough in their plants.

The innuendo is that they will be nationalised unless the situation is addressed.

That caused a diplomatic stir I can tell you. It is said that even Spain’s King Juan Carlos picked up the phone to Argentine Premier Cristina Fernandez de Kirchner.

Olympic cut-back

ARE Olympic events losing their appeal?

Could this be part of the reason Spain’s state broadcasting channel TVE is slashing spending by 25 per cent on the 2012 event?

It will also send 25 per cent fewer media professionals than it did to the spectacular Olympics staged at Beijing.

One can see their point; when one adds the true costs up, including television and media rights, we are talking €70 million.

I for one can think of far better ways of spending that kind of money. 

A convenient truth

ONE cannot help but smile wryly at the wording of a news report relating to Libya’s Spanish assets.

We learn that a large real estate project in Marbella is now being developed by its new owners.

No, the new governance is not quite the same as the management that paid for it in the first place but we shall let that pass.

Did I mentioning anything about looting, profiteering?

I like the bit where it says, ‘the project was frozen because of the death of Muamar el Gaddafi.’

Just passed away did he? Nothing at all with his country being bombed to a parking lot by NATO and the country’s legitimate leader cornered and summarily executed.

Sometimes my pride in Europe slips a little.

Photo credit: Ben Sutherland