Western Hemisphere
Ecuador's President Rafael Correa, re-elected in the presidential election held last Sunday, disclaimed any axis between Venezuela, Bolivia and his country. At the same time, he proposed the establishment of a Bank of the South to support national currencies. The institution would be financed with funds from the region.

In an interview with Spanish newspaper El País, Correa also referred to the initiatives of his government to address the return of many of the Ecuadorian immigrants from Spain, Efe reported.

At regional level, President Correa said that his country has excellent relations with all countries. "I have probably traveled more to Brazil than Venezuela. I have traveled many more times to Argentina. If you want to find axes, look and find them."

"If there were an axis, Correa said, this would not be wrong. However, I have to reiterate that there is no axis. There is much talk and sometimes people confuse populism with popular (…)" Correa said.