Ecuador's Correa backers march for new constitution

[Judi Lynn]

Ecuador's Correa backers march for new constitution
Sat Aug 23, 2008 3:55pm EDT

QUITO (Reuters) - Thousands marched on Saturday to back Ecuadorian President Rafael Correa who polls show is inching closer to winning a September 28 vote to pass a new constitution that would expand the leftist's authority.

Correa, a former economy minister who took office last year, is widely popular for his spending on the poor and his pledges to fight powerful elites he blames for the political instability that toppled his last three predecessors.

The new constitution would bolster Correa's sway over the oil-producing country's economy and political institutions such as Congress and the top courts.

"We will crush the old country ruled by elites and mafia groups," Correa told cheering supporters waving the lime-green flags of his political party in the hilly capital, Quito. "We are not going to return to the past ... we will win this decisive battle."

More:
http://www.reuters.com/article/worldNews/idUSN2343016020080823?rpc=401&feedType=RSS&feedName=worldNews&rpc=401

[Judi Lynn]

1. Ecuador a moderate in Andean oil national takeovers

Ecuador a moderate in Andean oil national takeovers
Published: Sunday, 24 August, 2008, 08:22 AM Doha Time

QUITO: Ecuadorean President Rafael Correa is steering away from the energy nationalisations of leftist allies, Venezuela and Bolivia, in a show of moderation that could help him keep oil output steady this year.

Correa spooked investors last year by hiking a sweeping windfall tax and ordering companies to rework contracts, but in recent weeks he secured deals with investors that analysts say will help stabilize weak output after he shunned calls for more aggressive oil field takeovers.

The approach shows the pragmatic streak of a tough-talking leftist, whom investors feared would boost state control over the oil sector with nationalizations in the style of Venezuela’s Hugo Chavez or Bolivia’s Evo Morales.

“We are pragmatic socialists,” Oil Minister Galo Chiriboga said recently. “Our plan from the start was to reach deals with the companies ... but sometimes you need strong measures to get both sides to sit down and talk.”

~snip~
“At the end of the day, like Venezuela and Bolivia, we are also getting what we want, but using a different route.”
Correa’s surprise hike of a windfall tax last year rattled investors who still wonder if his moderation might ultimately take a back seat to strong leftist rhetoric, which tends to go over well with voters.

More:
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=237507&version=1&template_id=48&parent_id=28