CANAL CRISIS: Martinelli calls for closing of ranks to support ACP

WHILE the discussions between the prime combatants in the $1.6 billion Canal expansion dispute between the Panama Canal Authority (ACP) and the consortium GUPC have ended, the war of words has escalated in Panama and Europe.

President Ricardo Martinelli described the performance of GUPC as "irresponsible," and called on the Panamanian population to close ranks with the ACP and support actions undertaken by that institution.

In Italy, the actions of the ACP have been described as "absurd.

In Panama GUPC has been called blackmailers. and the ACP intransigent depending on the angle the fight  is viewed from.

For 10,000 displaced workers and sub contractors who may never see their money, the affair is "tragic."

At the same time Martinelli showed confidence than Zurich America which holds a $600 million bond on the expansion, Martinelli says that despite the obstacles, the project will be finished but gave no time line. Zurich has predicted a three to five year delay in completion if GUPC is removed from the job.
Meanwhile the National Assembly as ACP Administrator Jorge Luis Quijano to the house to provide an update.
Quijano will be called to answer a list of questions, which includes queries about GUPC claims and the reasons for which the negotiations were suspended.
Members also want to know "what actions and measures will be launched in the short and medium term to restart the Panama Canal expansión."
Another question for Quijano is related to the participation of insurance companies, such as Zúrich, that have bonds to cover delays.
The body also wants to know how much the delays will cost.
It is estimated that the Quijano would go to the National Assembly on Monday or Tuesday of next week says La Prensa.

Meanwhile in Nicaragua, plans are moving ahead to start construction on a new canal which will carry bigger ships that even the expanded  Panama Canal.