Berlin reports that Germany is negotiating for a part in the economic exploitation of Ecuador’s resources were described today by President Frederico Paez as “fairy tales invented by newspapermen lacking real news,” the Havas News Agency reported.
“There have been talks between Berlin and Quito regarding concessions to facilitate payments on purchases made from Germany, but “oil field concessions were never mentioned,” the President declared. He added that a number of German companies were interested in the purchase of the Ecuador oil fields purely as an ordinary business transaction in accordance with the laws of the Latin American nation.
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