BREAKING NEWS
November 27, 2008
Leftist Appears to Win Ecuador's Presidency
A political outsider with a graduate degree from the University of Illinois and a leftist bent appeared to win Ecuador's presidency Sunday, defeating a conservative banana magnate who could not escape being seen as a symbol of the country's economic elite.
Economist Rafael Correa, 43, was riding to a surprisingly comfortable victory on the votes of Ecuador's poor and working classes. He vowed to provide not just jobs, government aid and public services. He also promised people a voice in the nation's affairs.
"Nobody will dominate us now," Correa told raucous supporters Sunday night in central Quito. "After many years of social and economic policies of exclusion ... they could not rob us of hope.
Faced with a choice between the charismatic but untested Correa and Ecuador's richest man, Alvaro Noboa, voters appeared to choose the guy they consider one of their own over the man from the establishment.
The Chicago Tribune |
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Shifting Political Winds Sweep Ecuador to the Left
By: Pete Kendall, November 27, 2006 |
Bear markets create social polarization; in the political realm, that means radical politics.
Conquer the Crash
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The latest election fits right in with just about every other one in 2006: in Germany, England, Italy, France, Bolivia, Nicaragua and the United States, voters delivered the same basic message. They want “change.” To get it, they are taking power from the rich conservatives and giving it to more populist, anti-trade candidates. In Ecuador, Noboa, a banana mogul, “lost despite tapping his personal fortune of more than $1 billion.” His poor showing in banana growing “says a lot about the presidential race.” His opponent scored points by talking about “reasserting state control over parts of the economy, putting the brakes on globalization and making Ecuador a more equitable country, Correa tapped into the frustrations of workers.” His election along with so many other liberal candidates sets the stage for an important political element of the coming financial debacle, the confrontation between the recently revived forces of globalization and an emerging anti-business, global political establishment.
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