Spanish ‘Second Conquest’ backfiring in Latin America?

Bolivia has announced the seizure of a Spanish energy company, hot on the heels of Argentina’s expropriation of YPF. The move has drawn fury in Spain, raising fears of a growing populist movement that would oust its economic dominance in the region.

Following President Morales’ decision, the vice-president of the Spanish Confederation of Employers' Organizations branded it a “mockery” of Spanish interests in the region.

Arturo Fernandez called on the government to impose “drastic measures” instead of repeating platitudes about brotherly love and harmony.

He warned that if such policies were not curtailed the effect could be “infectious” and spread to other countries in the region where “a lot of money, work and effort has been invested in fixing their economic problems.”