Evo Morales: The Capitalist System Has Failed

La Paz - Bolivia''s president Evo Morales today called the capitalist model a failure and criticized the policies of domination, intervention and looting in several countries around the world.

'I feel that the capitalist system no longer has a plan and that the empire has failed,' Morales declared in a meeting in the Foreign Ministry with the Bolivian ambassadors.

In his speech, the president recalled that these nations made believe that neoliberalism, free trade agreements and globalization were the solution for humanity.

'That is what they sold the world. But what have they solved? Wealth continues to be concentrated in a few hands and poverty, the financial and climate crisis continues to grow,' he warned.

The president criticized the intervention of the United States in the countries of the Middle East to control natural resources, which only leads to destabilization.

'As long as the capitalist system or imperialism exists, foreign interference will continue,' he added.

The leader also referred to the economic problems in European countries and the political situation in other nations that spend months without president.

'Aside from the international crisis and the fall in the price of oil, Bolivia is doing well and international organizations agree that the country will experience the most economic growth in South America,' the president said.

He added that despite the severe drought, the prices of staple foods did not rise, thanks to irrigation and drinking water programs implemented by the Government.

'With planning and investment it is possible to solve the country's challenges,' he said.

In hydrocarbons alone, Morales said, investments rose from 200 million dollars in 1985 to over 2 billion dollars a year in the last decade.

As for the minimum wage, it grew from 54 to 264 dollars a month.

After almost 11 years the support the Bolivian people have in the head of state continues.

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