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Ecuador Political News

Associated Press – Ecuador’s leftist president enacts antitrust law

New law in Ecuador that stems from an initiative passed in the country earlier this year:

Leftist President Rafael Correa enacted a new antitrust law Tuesday specifying that Ecuador’s news media owners and bankers cannot hold significant financial stakes in other industries.

The measure also bars any company from gaining a monopoly in an industry.

Ecuador’s business community criticized the law, saying it further empowered Correa by making his government the arbiter of what is considered monopolistic behavior.

Correa is already at war with much of the news media over his use of a criminal libel law against the opposition newspaper El Universo.

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