Did Condoleezza Come for the Drug Dealer?

Did Condoleezza come for the drug dealer?

“Loyalty has a tranquil heart”

William Shakespeare (1564-1616)

Last weekend the Secretary of State of the administration of George W. Bush was in Mexico; the famous Condoleezza Rice. Many will be wondering what such a distinguished and famous figure of U.S. foreign policy was doing in the country. Which of the following would be the motives for the “surprise” visit:

1. During the great financial and economic global crisis, U.S. corporations need a stable peso-dollar exchange rate, which could include an overvalued peso to increase the export of U.S. products in Mexico and prevent Mexico from wasting more reserves.

2. Perhaps, along the same lines, it could be the need to negotiate the complete and unconditional support of the program to rescue U.S. banks with interests in Mexico.

3. However, the most important motive perhaps is the war that the United States has initiated in Mexico against the majority of drug cartels. There have been many responses but it is interesting to note that, in less than 48 hours after Rice left the country, one of the members of the cartel Arellano Félix, Eduardo, was captured. This could perhaps lead to the legislative reconsideration of the so-called Merida Initiative as well as the security reinforcement of the neighboring country’s diplomatic bases in Mexico. Let’s not forget the attacks against the consulate in Monterrey.

However it may be, the most likely is a combination of the three aspects, the most important being the good relationship between the PAN (National Action Party) and the Republicans who share a great ideological affinity for conservatism.

Condoleezza’s visit is just one of the closing moves of the Bush Administration; the protection of Republican interests in Mexico with the prospect of a virtual victory of the Democrats, currently led by Barack Obama, for the presidency and Congress of our neighbour to the north.

Powerful Businessmen

Four companies were already rescued by Nafin in a market dry of resources. The cement company Cemex, of Lorenzo Zambrano, Coppel, of Agustin Coppel Luken and the lessors Banregio and Unifin were supported with guarantees of 2 billion pesos granted by Nacional Financiera. The Mexican cement company succeeded yesterday in attracting some 500 million pesos from the market according to the result of the auction of the company’s debt offering. Coppel, respectively, obtained 300 million pesos. Both need funding for their operations in Mexico. They achieved their objective after a failed attempt the week before last to raise resources. Cemex and Coppel refuse to go bankrupt.

Corporate Social Responsibility

The winners of the second competition of the Holcim Awards, which honor sustainable construction in Latin America, were revealed in Mexico City. The grant of $270,000 was awarded to 12 projects in the region that offer innovative solutions for community housing, energy efficiency and revitalization of water resources and the community.

Monkey Business

Two weeks away from Christmas holidays Wal-Mart of Mexico, headed by Eduardo Solórzano, opened the biggest toy store in the country among 147 other stores.

Vitro*, of the Sada González brothers, is being watched by risk evaluators that currently agree the glass company won’t be able to pay its debts. Will it go into bankruptcy proceedings?

*editor’s Note – Mexico based company