GUPC talks with Panama Canal collapse

Talks between the Panama Canal authority and the construction consortium led by Spain's Sacyr to solve a $1.6-billion cost overrun dispute have collapsed.

The consortium, known as GUPC, warned some 10,000 workers in the Canal expansion project could be dismissed because of the interruption to the negotiations.

European Commission Vice President Antonio Tajani said he was surpised, as only yesterday Panamanian Presidente Ricadro Martinelli said in an optimistic public statement that the Canal authority and GUPC were close to finding a solution.

Full story (in Spanish)