Banking & Investment

Correa warns: “They want to create another Middle East”

When in use, the new commander of the Armed Forces of Ecuador, Correa highlighted the importance of investment in the defense of state sovereignty and to improve the operability of the military institution.

About statements from Colombia”s presidential candidates who supported the attack on Ecuadorean territory of Angostura on March 1, 2008 and said they would order something similar, if necessary, Correa stressed that the country should be prepared to defend themselves.

“With the existence of retarding visions that seek to justify military intervention in brother countries,” Correa revealed that defense spending amounts to 1.6 billion dollars, of which 398 are to acquire, modernize and maintain facilities for national defense.

In total, he said, that spending represents 2.7 percent of our Gross Domestic Product (GDP) and is second only to spending on education, but said he “can not development without defense, without development or defense. “

He said particular emphasis was placed1000on the presence of the armed forces in border areas, especially the northern border with Colombia.

“We are a sovereign people that recognizes peace as the supreme good of the citizens,” he said, reiterating the decision to respond with energy and courage TERRITORIES any attack on Ecuador. (Telam) .- ab-gel23/04/2010 18:13