SYMPATHY WITH HISPANIC COUNTRIES DURING RECESSION

I would like to express particular sympathy for Spain and several other Hispanic countries with the news of Spanish companies being nationalised in South America. I sympathise with Spain, in the sense that the country has already been suffering due to the economic crisis, so it could do without its lucrative overseas businesses being seized and nationalised at this difficult time. Having said this, I can sympathise with Argentina (Falklands aside) and Bolivia in wanting to nationalise these companies, following a similar train of thought as my last post. It is understandable that a country would rather have control of, and keep profits from, its own resources. However, I can foresee a negative consequence of this being that international companies may fear making further investments in South America, due to the greater risk that their investments may similarly be lost because they are nationalised. Though it is better for countries to produce their own wealth, at times of difficulty all income is valuable- and overseas investment in your country is one of them.