Correa’s already- named Cabinet is like a Who’s Who of badly educated, unprepared thugs, ngo s, communist party presidents, pornographers and unwelcome guests at any setting. Add to this Correa’s avowed devotion to Cuba’s Fidel Castro and his well paid obedience to Hugo Chavez and you understand the entrance to Quito on Monday of Chavez escorting his new minder, the president of Iran.

Tragically, the people of Venezuela suffered a similar fate to Ecuador’s November vote in December by also electing a man who failed to inform his voters of his real intentions, however much the true facts have been on the table for some time. The government of Iran will perform that task now very neatly in both Venezuela and Ecuador whose governments are now serving as paid escort services for the Russo-Iranian thugs of real evil.

This alignment will be speedily installed in under 90 days, according to Correa’s insiders who have noted that their agenda must be installed with all haste before the citizens of Ecuador actually determine what Correa is performing.

Although this past week Rafael Correa publicly urged illegal violence against the Opposition leaders in their Congress, including the president of the Congress, the Congressional voting bloc of the feckless Lucio Gutierrez hastily broke with the pro-constitutional governance of their Congress. This leaves the nation on constantly shifting ground- destabilizing at best- as Correra’s dealmakers push hard to congeal their totalitarian “constitution” which is of course an almost parallel to the Chavez, Morales and Putin drafts.

Latin Finance today trumpets the naïve notion irresponsibly put forward by Merrill Lynch that with the upcoming installation of the #2 or deputy finance minister of Ecuador all will be fine, cheering investors even as Correa has pledged to destroy each and every normative governance. Investors have not been deceived by these false harbingers of stability. Fausto Ortiz is no savior for Ecuador’s ruinous 90 day blitzkrieg underway. There is no Maginot Line erected to forestall the termination of democracy or global finance as pledged by Rafael Correa. There is nothing to celebrate in Ecuador these days unless you are the president of Iran.

-The Editors, Ecrisis

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Ortiz Appointment In Ecuador Cheers Investors          Latin Finance 1-12-07
The appointment by Ecuador’s president-elect Rafael Correa of Fausto Ortiz as deputy finance minister has cheered investors who see him as market friendly. Ortiz was deputy finance minister under Magdalena Barreiro and worked on the issuance of Ecuador’s global 2015 bonds in December 2005, which saw the sovereign return to the international capital markets for the first time since its 1999 default. JP Morgan commented that, “While Correa will likely have the last word, Ortiz is seen as a moderate and pragmatic voice on debt management, and is not believed to be an advocate of default.” Merrill Lynch, quoted by Dow Jones, said it saw his nomination “as an indication that a plan is yet to be set to default on the external debt and that there is someone on the economic team who could send the message that a lot could be achieved by proactive liability management.” Despite the good news, Ecuador’s bonds came under pressure after a local audit committee declared the country’s outstanding external debt “illegal.” In its daily emerging markets recap, JP Morgan noted that “Investors, concerned that the finding could be used as justification for restructuring the country’s debt by the new administration, dumped the country’s bonds, taking EMBIG-Ecuador 20bp wider for a negative 1.22% daily return.”