On 6 November 2013 at the University of Paris, Ecuador president Rafael Correa delivered his views on resolving the European crisis, by drawing upon past Latin-American lessons.
The Latin America of the 1980s would have fallen victim to an imperialist plot, led by the United States, who were hoping to once again take control of the sub-continent through treacherous means. Following the 1970s crisis, the majority of Latin American countries were insolvent. They were denied international loans, but were also suffering from the sharp increase in interest rates from places such as the Federal Reserve in the United States. The IMF “kindly” offered aid by granting loans to pay off their debts, but while eventually imposing conditions as underhand as they were drastic. International institutions have hidden their economic ideology in science. Correa had a mission in going to France, and it was partly to enlighten ill-advised Europeans. At last, Latin America is the one giving advice. Read the rest of this entry »