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May 2, 2012

Is Latin America on a Nationalization Kick?

John Rathbone, The World

AP Photo

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President Evo Morales of Bolivia - following in Argentina's nationalisation footsteps? Reuters

There seems to be a domino effect in Latin America. Two weeks after President Cristina Fernández nationalised Spanish oil company Repsol's stake in Argentina's YPF, President Evo Morales has nationalised Spanish electricity grid operator Red Eléctrica's business in neighbouring Bolivia.

In both cases, troops were sent in to underline the glorious nationalism of the occasion. But does this mark a new wave of populism and nationalisations in the region? Almost certainly not.

Since he...

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TAGGED: Latin America, global economy

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