The clich� is well-known: Latin America catches a cold and South Floridasneezes. But when Ecuador’s economy catches the flu, some Florida banks geta fever.
Already, the Ecuadorean crisis has led to the closure of one bank inFlorida. Ecuador’s default on part of its Brady bond and eurobond paymentsand that government’s seizure of troubled banks has prompted increasedscrutiny from market watchers of banks with Ecuadorean links in Florida.Crises in other Latin American countries have prompted at least two bankshere to shut down recently.
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