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South America Turns Left (Spanish/English)

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    URUGUAY, BRAZIL, PERU IN FLAMES ... Uruguayan Government Shutdown All Banks 5,000 Police mobilized to Protect Them El Gobierno Cerro todos Los Bancos Movilizan
    Message 1 of 1 , Aug 2, 2002
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      Uruguayan Government Shutdown All Banks
      5,000 Police mobilized to Protect Them
      El Gobierno Cerro todos Los Bancos
      Movilizan a 5,000 Policias para Protegerlos

      Restrictions are to be placed on Uruguayan savings accounts when
      banks reopen on Monday, the country's government has announced.
      The controls will come as part of an attempt to stabilize the
      country's financial institutions and put a brake on bank withdrawals.
      Se impondran restricciones en las cuentas de ahorro cuando los bancos
      reabran el lunes, anuncio el gobierno Uruguayo.
      Los controles seran impuestos como parte de un intento de estabilizar
      las instituciones financieras y poner freno a los retiros de fondos
      An accelerating run on central bank reserves prompted the government
      to shut banks last Tuesday for the remainder of the week, as the
      economic crisis in Argentina began to infect its neighbor.
      Una corrida bancaria sobre las reservas del Banco Central obligaron al
      gobierno a cerrar todos los bancos el pasado martes y por el resto de la
      semana mientras la crisis Argentina comienza a infectar al vecino pais.
      On Friday morning police were standing guard outside shopping centers
      and supermarkets in Montevideo after workers and the poor ransacked 16
      stores during a general strike on Thursday.
      El viernes por la manana la policia montaba guardia en las entradas de
      super-mercados y centros comerciales de la capital, Montevideo después
      de que trabajadores y pobres asaltaron y vaciaron 16 negocios durante la
      huelga general del jueves.
      While many of the conditions of the crisis in Uruguay are similar to
      those in Argentina, political reality is different. The governing
      parties are stronger, the country had been more stable in the past and
      the workers federations answered the governmental measures with an
      immediate and almost total general strike.

      Workers generally follow left wing parties with great influence. The
      fact that most of these influential trade union and political left
      leaderships are reformists act as a line of contention as well.
      Mientras muchas de las condiciones de la crisis en Uruguay son similares
      a las de Argentina, la realidad politica es diferente. Los partidos
      gobernantes son mas fuertes, el pais ha pasado por cierta estabilidad en
      el pasado inmediato y las federaciones de trabajadores respondieron
      inmediatamente con una huelga general casi total a las medidas

      Los trabajadores generalmente siguen a partidos de izquierda con gran
      influencia. El hecho de que estas direcciones influyentes de los
      sindicatos y la izquierda politica sean reformistas actua tambien como
      dique de contencion.
      In Argentina workers federations are divided and factionalized and
      failed to act to confront the crisis with the exception of the smallest
      one, the CTA, the ruling class parties are in shambles, the middle class
      is massively disaffected but the left organizations are very
      factionalized and do not have much penetration in the unions and their
      strength is mostly among unemployed and neighborhood crowds as well as
      some layers of the youth.
      En la Argentina las federaciones obreras estan dividadas y
      faccionalizadas y no actuaron en los ultimos meses, con excepcion de la
      mas pequena, la CTA. Los partidos de la clase dominante estan en ruinas,
      la clase media esta masivamente descontenta pero los partidos de
      izquierda estan muy divididos y faccionalizados y no tienen mayor
      penetración en el area critica de los sindicatos, limitando su
      influencia a algunos barrios y entre los desempleados y algunos sectores
      de la juventud.
      The White House and Bush's spokespersons declared today that the US will
      most likely help - possibly bail out Uruguay. As opposed to Argentine,
      the Bush's administration stated that the Uruguayan government has acted
      in a "unified" way to confront the economic woes.

      Some observers, however, pointed out that US investments in Uruguay are
      significant as opposed to Argentina where main investments are still in
      the hands of European corporations.
      La Casa Blanca y los representantes de Bush se apresuraron a declarar
      hoy que ayudarian al Uruguay, posiblemente con ayuda economica.
      Uruguay, contrario a la Argentina, dijeron los representantes de la
      administración Bush, respondio en forma "unificada" a la crisis

      Algunos observadores, sin embargo, notaron que el trato diferente se
      deberia a que los EEUU tienen muchas inversiones en Uruguay mientras en
      Argentina lo que predominaban eran las inversiones Europeas.


      Financial Times:
      Latin America turns left
      Latinoamerica Gira a la Izquierda
      July 28 2002


      "Latin America is in turmoil. In recent weeks, there have been anti-
      privatization riots in Peru and Paraguay, violent strikes in Ecuador
      and financial crises in Brazil and Uruguay. Last week, as the
      government candidate Jose Serra slumped further in the polls before
      October's election, Brazil's currency and bonds sank to their lowest
      levels ever. Argentina's economic crisis continues to fester."
      "Latinoamerica esta en llamas. En recientes semanas, ha habido
      revueltas anti-privatizadoras en Paraguay y Peru, violentas huelgas en
      Ecuador y crisis financieras en Brasil y Uruguay. La semana pasada,
      mientras el candidato presidencial Jose Serra bajo aun mas en las
      encuestas antes de las elecciones de Octubre, la moneda y los bonos
      brasilenos se hundieron a los niveles mas bajos de su historia. La
      crisis economica de Argentina continua sin disminuir."
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