Time running out for two Panama papers

WITH THE POTENIAL closing of La Estrella, Panama’s oldest newspaper and El Siglo its tabloid stablemate, only three days away, the United States Ambassador to Panama held out little hope for their survival on Monday January 2.

 “If the captain does not give way, I have nothing more to say. ” said Ambassador John Feeley referring to Abdul Waked the owner of  Grupo Editorial El Siglo and La Estrella (Gese), whose operations have been affected since May 5, when The US  Treasury Department included Waked,  principal shareholder of the company, in the Clinton List for activities linked to money laundering and drug trafficking.

“When a boat is on the high seas and the conditions are rough, the boat is between sea and wind … and the captain is, by other considerations, unable to continue handling that ship, there is the option to yield the helm to others  to  guide that ship to a safe harbor and rescue’’ said

In this case, there is a 250 crew … If the captain does not give up the helm, then I have nothing more to say.”

Eduardo Quirós, President of Gese said he would not make any statements.

The United States prohibits its citizens and entities from maintaining commercial and financial relations

With listed entities, but the Treasury Department through the Office of Asset Control Abroad (OFAC) made an exception and granted a license in favor of

Gese, until January 5. The Panamanian government requested an extension, without obtaining a response so far.

At the reopening of the National Assembly on Monday, the Assembly’s president, Ruben de Leon, made a plea for the papers, saying that their deaths would reduce essential press involvement in the country.