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Ecuador's Correa sworn in for third term in office

ROUGH CUT (NO REPORTER NARRATION) STORY: Ecuador's President Rafael Correa began his third term in office on Friday with an inauguration ceremony attended by Latin American leaders and Spain's Prince Felipe. Correa, a member of an alliance of left-wing Latin American presidents, won re-election in February this year with about 57 percent of the vote. Correa has won broad support from the country's low-income majority with heavy spending on welfare, health, education and infrastructure projects. But the U.S.-trained economist has irked investors by using anti-capitalist rhetoric, defaulting on $3.2 billion of debt, making oil companies sign less-profitable service contracts and pushing through a new constitution that gave him more power. Critics call Correa a dangerous authoritarian who has curbed media freedom and controlled state institutions. Correa is expected to continue spending heavily on the poor and implementing policies to give the state mor

© DailyMotion -


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