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Article: Political crisis imperils Ecuador's economy.
- Article from:
- Market Latin America
- Article date:
- June 1, 2006
CopyrightCOPYRIGHT 2006 Media Contact Resources, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Of the many reports about Ecuador's recent decision to seize the assets of a major United States (US) oil company, the following stood out. Business Week (May 18, 2006) said Ecuador's president, ". . . was being threatened by some members of congress with possible treason charges . . ." if the seizure were abandoned.
Press reports focused on the legal issue-not properly informing the authorities of a lease transfer-and a consensus emerged that while the government was technically correct, the punishment did not fit the crime.
This misses the point entirely.
A current posting on the Amnesty International website talks of four decades of ...