LATIN AMERICA

 

Alternative Measures will Beat Crisis, Ecuador

Quito - Establishing a productive system, different from that of today's capitalism, will allow overcoming the current international financial crisis, Ecuadorian Economic Policy Minister Diego Borja said.

We have to seek alternatives to the capitalist logics, for the poor and those unprotected not to pay for this catastrophic financial, economic, energy, and environmental situation, as in 1982, 1983, 1986, 1998, 1999 and 2000, Borja said, according to the Legislative Commission web site.

He also said this crisis is costing $9 trillion to humanity and has resulted in around three million unemployed people per month in the world.

The minister highlighted the need to find different ways from those traditional, to overcome this complicated problem, and supported implementation of a different productive system.

He was in favor of boosting the sector of people's economy, cooperatives, the autonomous people, communities, and others, which have renovation capacity, by means of a different conception.

"The crisis is not only financial, but also real, environmental and institutional," and incapacity of neoliberalism, the International Monetary Fund, the World Trade Organization and the multilateral authorities to change this situation has been notorious in the last 20 years, he asserted.

After saying this is a worse problem, the minister demanded a reform, because he said that life in the world in the year 2050 would be in danger, due to energy waste.

Borja said there is a negative economic growth, because of the six percent previously predicted for La tin America, there will be only three percent, while of the 5.2 percent planned in Ecuador, only 2.3 percent will be reached.