http://www.trinidadexpress.com/index.pl/article_opinion?id=138926120The Axis of Good
Mary King
Monday, February 27th 2006
For example he has signed with Brazil, Uruguay, Argentina, Bolivia and Argentina, PetroSur, a joint venture to execute oil projects in the countries, agreed to supply Uruguay with one million barrels of fuel per month, similar to PetroCaribe, in which 75 per cent is to be paid in 90 days and the rest over 15 years. Some payment can be made in cattle and other food products.
Also, Chavez has bought out US$1.6 billion in Argentina's government bonds such that that country could entirely repay the IMF, purchased US$25 million in defaulted Ecuadorian bonds and appears to be supporting the idea of the 'Bank of the South' that would make loans in competition with the IMF without the Washington conditions.
What Mr Mottley did not address are the implications for the FTAA given the creation of the Axis for Good in the region. For example on his arrival in Argentina on November 4, 2005 to participate in the Fourth Summit of the Americas, Chavez said that the FTAA is dead. This attempt to resurrect the FTAA talks (stalled now for the last two years) failed to resolve the key differences over how to create a hemisphere-wide free trade zone, amid violent anti-US protests.