Most of the property was subsequently confiscated and nationalized by the State of Angola.

2.2 On 26 October 1977, Portugal promulgated Act No. 80 77, recognizing the right of Portuguese citizens and foreign nationals whose property on Portuguese metropolitan territory had been expropriated or nationalized during the troubles of 1975 and 1976 to receive compensation.

While riding the crest of the last oil boom in the late 1970 s, Nigeria s military leaders nationalized the assets of British Petroleum and became champions of pan African co operation, financing several African liberation movements. The interests of the West and Nigeria repeatedly clashed, but Nigeria always stood its ground.

Act No. 80 77 of 26 October 1977, whose original title is Indemnizações aos ex titulares de direitos sobre bens nacionalizados ou expropriados , recognized the right to compensation of Portuguese citizens and foreign nationals whose property on Portuguese territory had been expropriated or nationalized during the troubles of 1975 and 1976.

It is hard to argue that the British system performed any more effectively than the American, so the single regulator movement has suffered reputational damage. And the continuing travails of the Dutch banking system another bank was nationalized last month suggest that it is easy to fall into the gap between twin peaks.

Many of the West s leading financial institutions those that have not been nationalized as well some important industrial enterprises, will remain at the mercy of capital from China or the Gulf states. In trade, the current round of global negotiations has demonstrated that if rich nations want developing nations to cooperate, they will need to let them shape the rules of the game.