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Jan. 6, 2006
The Gas War: A Monumental Russian Mistake
Early on January 4, Gazprom and Ukrainian gas officials reached an agreement on gas deliveries to Ukraine in Moscow. This was in many ways an excellent agreement, but most of all so for Ukraine. -->First, it is a five-year agreement lasting till the end of 2009, which means that stable conditions for gas deliveries should have been accomplished. Amazingly, Russia is offering Ukraine five years of stable natural gas prices at a time of rising gas prices and increased gas scarcity, while most countries face annual price revisions. read more
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Dec. 12, 2005
Chile, Mexico & Brazil: the triumph of pragmatism
In December, the Chileans celebrated a new round of elections. However, beyond this event, there is yet another point worth celebrating: the profound and subtle transformation which is taking place in Chile and in Latin America stemming from the surge of economic pragmatism outside the predetermined paths of any rigid ideological model. -->The example of Chile The Chilean example is, from this point of view, exemplary (and perhaps unique), where the privatization of pension funds remained within the framework of a jewel of regulation of top quality institutional craftsmanship. Year after year, the system was modified and adjusted in order to improve. Today, the Chilean regulation body, the Superintendencia, is one of the most credible, technically prestigious and highly esteemed institutions in the country, making it a strong institutional mast. read more
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