Heads of state and ministers from almost 60 European, Latin American and Caribbean countries continue their summit in Vienna today. Observers say the spotlight is shining bright on the left-wing duo of Venezuela and Bolivia. Both countries have caused concern among governments at the summit.
Venezuela has quit the Andean Community trade group, and Bolivia has threatened to do the same. Bolivia has also caused panic among investors by announcing the nationalisation of its oil and natural gas industry. The nation’s new leader Evo Morales said: “Neither the indigenous people nor I came this far in the name of vengeance. I am here to bring hope to my people, especially to defend those who historically have been marginalised, humiliated, despised, under-rated, and even threatened with extinction.” Morales, who was elected in December, has rejected comments that he should have consulted with investors and neighbouring governments before announcing his nationalisation plan.