Old Man and the Sea A Man Can Be Destroyed but Not Defeated

â€Å"A man can be destroyed but not defeated† In the Old man and the sea, Santiago says, â€Å"A man can be destroyed but not defeated. (Page 93)† The true statement can be referred to throughout the novel. Santiago is in the end physically destroyed, but mentally he is not defeated. Santiago’s courage and pride pushes him forward throughout the novel, even when it looks like hope is lost, but is never defeated. Destruction means to completely ruin or spoil. Santiago experienced this destruction. It started with 84 days of not catching anything. He was being crushed but his spirit and pride prevented defeat. During the fight with the marlin, he physically was being destroyed. He had a choice to spare his life and let the fish go but he knew he†¦show more content†¦Santiago is not the only person to be destroyed but still successful. Nelson Mandela was an anti-apartheid activist in South Africa. He was arrested for treason, and was put in prison for abou t 27 years. He was losing, but he never gave up so when he was freed he kept trying for equality between the whites and the blacks. His group was able to finally get the first multi-racial election in South Africa and Nelson Mandela was declared president. He was able to lead apartheid South Africa into a country of equality. Nelson Mandela was destroyed, but not defeated so he was able to rise from the murky depths into leading a free nation for the first time. So in conclusion, destroy really means to damage, while defeat means to give up. A man can only take a certain amount of destruction before he succumbs to defeat. So that would mean if a person were defeated, they would not worthy of the title †man.† They would have the title â€Å"coward†. Sadly, it is hard to find real men in this world today, but a few stand out like Nelson Mandela and Gandhi. Santiago is just an example to the world that there are good people in thisShow MoreRelatedComparing the Film a nd the Novel of Hemingways Old Man and the Sea1297 Words   |  6 PagesComparing the Film and the Novel of Hemingways Old Man and the Sea After having read the Hemingways Old Man and the Sea as a book in class, we also watched the film which was made afterwards because of the storys enormous popularity. As always, there are some ways in which the book differsRead MoreOld Man and the Sea5543 Words   |  23 PagesA Man Can Be Destroyed But Not Defeated –The Struggle of Life in â€Å"The Old Man and the Sea† A Man Can Be Destroyed But Not Defeated – The Struggle of Life in â€Å"The Old Man and the Sea† Sophie Chen(é™ ³Ã¦Ëœ ±Ã¥ â€¡) Class 201 National Dali Senior High School March.17, 2007 1/24 PDF created with pdfFactory trial version www.pdffactory.com A Man Can Be Destroyed But Not Defeated –The Struggle of Life in â€Å"The Old Man and the Sea† I. Introduction The Old Man and the Sea is one of the finest worksRead MoreThe Old Man and the Sea by Ernest Hemingway Essay983 Words   |  4 PagesThe Old Man and the Sea There is a scene in Ernest Hemingway’s The Old Man and the Sea, when after a shark has taken a big chunk about forty pounds off Santiago prize marlin catch, Santiago begin to doubt whether he should have gone out to sea and wishes that he had never hooked the fish and was alone in bed with his newspaper (103). Immediately after the Santiago says, â€Å"But man is not made for defeat a man can be destroyed but not defeated† (103). The life of Ernest Hemingway intertwines to theRead MoreThe Merchant Of The Old Man And The Sea1096 Words   |  5 PagesWhat is the role of the sea in The Old Man and the Sea? The rich waters of the Gulf Stream provides many animals/figures that the old man observes and greets. Through Santiago’s interactions with these figures, his character emerges. In fact, Santiago is so connected to these waters, which he thinks is cheerful as a sometimes fickle lover, that the sea acts almost like a lens through which the reader views his character. Santiago’s interaction with the weary warbler, for instance, shows not onlyRead MoreThe Old Man And The Sea1009 Words   |  5 PagesThe Old Man and the Sea is a Pulitzer prize-winning novella written by Nobel award-winning author and journalist Ernest Hemingway. Hemingway endured many tragedies, from the wounds of his time in war and even during two successive plane crashes in which Hemingway was permanently injured. Throughout it all, however, Ernest Hemingway still stood with great honor and took pride in his humility. These are the characteristics that really led Hemingway to greatness and success. His book is the story ofRead More Old Man and the Sea Essay1214 Words   |  5 PagesErnest Hemingway wrote The Old Man and the Sea to show how you can push through the hardest of times and still not be defeated. The story shows how an old fisherman overcame an unlucky slump with the support from a young boy that loved and helped Santiago named Manolin. Santiago fought through the discrimination of the other old fisherman and refused to give up. Through Santiago’s struggles when trying to catch the great marlin, he kept pursuing his goal. Through sweat and tears Santiago never givesRead MorePerseverance In Ernest Hemingways The Old Man And The Sea1379 Words   |  6 PagesThe Old Man and the Sea â€Å"But man is not made for defeat, he said. A man can be destroyed but not defeated. (Hemingway 103).† This quote, written by Ernest Hemingway in the short story The Old Man and the Sea, captures the theme perseverance in numerous ways. This quote describes when the old man Santiago was struck down physically, with the injuries of his hands and the pain of staying awake for a number of days. However, he mentally kept pushing forward, leading to his ultimate survival and hisRead MoreMarlin off the Morrow: A Cuban Letter Written by Ernest Hemingway1107 Words   |  5 Pagesin 1933, and written by Ernest Hemingway. The essay details the escapades of a Cuban fisherman dragged out to sea by marlin. By the time he was found, sharks had destroyed the man’s great catch.1 This essay is the basis for the story of the main character, Santiago, in Hemingway’s novella, The Old Man and the Sea.1 Published almost twenty years later, in 1952, The Old Man and the Sea is co nsidered a classic American novel. The story is deceivingly simple, involving an unlucky elderly fishermanRead MoreAnalysis Of Ernest Hemingways The Old Man And The Sea852 Words   |  4 PagesThe will to keep on going even though there is a good chance of dying just to have a chance at getting something that might not be worth it. That is shown in the novella The Old Man and the Sea by Ernest Hemingway. When the Old man who is known as Santiago decides to go fishing alone without the help of his friend who is a boy, and Santiago is greeted by a massive fish. That he then tries to kill since he has the massive fish hooked. The battle against Santiago ,and the fish lasted for days, whichRead MoreThe Old Man and the Sea - Comparison Between the Book and the Film1425 Words   |  6 PagesAfter having read the Hemingways Old Man and the Sea as a book in class, we also watched the film which was made afterwards because of the storys enormous popularity. As always, there are some ways in which the book differs from the film as well as the fact that they have several things in common. Taking into consideration that this novel was Hemingways last desperate attempt at breaking through after all his previous narratives flopped I thought that the film might be different from the movie

Corrective Action for Disrespecting Higher Ranking...

This essay is on tact, professionalism, respect and disrespect, as part of my corrective action for disrespecting higher ranking military personal. I will start this essay off with defining each of the subjects so that the reader may have a full understanding on what each mean. Tact is the first subject on which I am suppose to include in this essay, tact is defined as a keen sense of what to say or do to avoid giving offense; skill in dealing with difficult or delicate situations. The second definition needed for this essay is on professionalism; professionalism is defined as professional character, spirit, or methods. Given that there are three main points to that definition, character is the key phrase to take from that definition for it pertains more to this essay then spirit or methods. The third definition needed is on respect, and the most suited definition for respect as it pertains to this essay is, deference to a right, privilege, privileged position, or someone or something considered to have certain rights or privileges; proper acceptance or courtesy; acknowledgment. With the definition of respect given, the last and most important definition is disrespect. Disrespect is defined as to regard or treat without respect; regard or treat with contem pt or rudeness. Tact in my opinion is the way you handle yourself in situations that you do not agree with or support. In the military you will face many situations that you may not understand or agree with and theShow MoreRelatedDisrespect in the Military Essay2217 Words   |  9 Pageshave been using the excuse that I am dealing with a lot of personal problems all at once, one after another etcetera and so forth. I could have avoided this entire situation completely by just bringing in my gear like I was instructed to do and then saying that I did not think I should have my weapon because of the difficulty I am having controlling myself and not being sure of the effects of the new medication on top of all of my personal issues. I had already requested and was given the chance toRead MoreThe Responsibilities of a Soldier10164 Words   |  41 Pagesstructure, punctuality, and discipline. I’ll start off the main part of the essay by saying that a good portion of what is written in this essay is knowledge from AR 670-1 Wear and Appearance of Army Uniforms and Insignia. The rest will be based on personal opinions and thoughts. The first thing I will be going over is discipline. Discipline is rooted deep into the core of the United States Army. The amount of discipline that is instilled and required in the army. Without discipline there can and will

Trojan War and Troy Essay Sample free essay sample

Troy is an adaptation of the verse form written by Homer. besides known as the Iliad. The screenplay was written by David Benioff and stars Brad Pitt. Eric Bana. Orlando Bloom. Brian Cox. Diane Kruger. and Rose Byrne. It is a superb narrative of love and war produced in 2004. My ground for taking this movie is because of the contention over what is myth and what is fact sing the autumn of Troy. I find the film so olympian yet the timeframe of the Iliad was around 1250 B. C. when it doesn’t seem plausible that everything could be so marvelous. The importance of this movie is in respects to the metropolis of Troy. the confederations of the Greeks. and the logical thinking behind the war in itself. It was made to capture the imaginativeness behind Homer and his verse form. The histrions were chosen and represented though his eyes. yet embellished a great trade for amusement intents. We will write a custom essay sample on Trojan War and Troy Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page While it was gratifying to watch. I found it slightly inaccurate with inquiries unanswered. While there may besides be grounds to back up much of what Homer wrote approximately. the film in itself creates a different semblance. The clip. topographic points. and people were either out of day of the month or non even involved in some instances. However. the histrions portrayed what Homer described absolutely. Achilles was strong and considered immortal. Hektor was the bravest and modest leader of Troy under the regulation of Priam. Helen was highly beautiful while Paris was naive and weak. All of the characters involved had of import functions whose actions were cause of many of import events. However. if you relate back to Homer and back to what historiographers have discovered. the film wasn’t an accurate representation. Troy was made in 3 different parts for one. including Mexico. Morocco and Malta. The war really lasted about 10 old ages non 17 yearss. Some of the props used were excessively early for the clip in which this was supposed to take topographic point. The coins that were to be placed on the eyes of a cadaver weren’t invented yet. The manner of ships and armour were besides non invented yet. The columns that resided in Troy were really Minoan. non Trojan. Even the arms used were inaccurate because soldiers used lances. non blades. The full metropolis of Troy was besides non every bit large as it was portrayed. It didn’t do sense to me that Troy was burned to the land when the metropolis was known for being made of rock. Some other things were besides off base like the narrative behind the Gods and goddesses every bit good as the soldiers and male monarchs. If you base it off of the myths of Grecian Gods and goddesses. much of the convulsion was caused because of their making. They had a immense portion in stirring up much of the war because of their influence. Besides. Agamemnon couldn’t have united all of those Grecian forces because Alexander the Great was the ground for much of those confederations. The relationship between households and besides who-killed-who was besides away in this movie. Achilles died before the besieging of Troy and it was in fact his ain boy who fought in the concluding war. Hektor didn’t putting to death Ajax in conflict because Ajax committed self-destruction when he was denied the armour of Achilles by Greek commanding officers. Patroklos was non Achilles cousin but instead a friend and was besides older. Briseis was neither a priestess nor cousin of Hekto r and was non from Troy. Besides the immense battle between Kektor and Achilles did non go on like the intense conflict we saw. Hektor really ran from Achilles and circled his ain metropolis three times before Athena made him face Achilles. Again. much of what I saw in the movie was inaccurate. but the secret plan behind it was true. Much of what happened was due to love. greed. heartache and lunacy. However. it was the will of the Supreme beings who controlled what happened. Homer’s narrative provides hints as to what happened to the city’s devastation. but the truth is far unknown. It might hold been due to an temblor in fact. The Trojan Equus caballus could hold been a metaphor. as Poseidon being the God of seas and temblors was much associated with Equus caballuss. The Greeks might non hold even fought the Dardans at all. It has been found that the Hittites were besides in Troy around 1200B. C. and have plausible ground to hold fought Troy themselves. It is besides sensible to state the Sea People might hold caused the devastation of Troy. Whether it was fought for greed. economic addition. glorification or district. it is non likely that it was fought over Helen. but possibly an unfairness done to the male monarch. The film was dramatic and used clearly for amusement intents. but if you relate back to historian texts and Greek mythology. it is apparent that the clip. topographic points. and people involved were non accurate.

Impact of Globalisation Global Economy

Question: Discuss about the Impact of Globalisationfor Global Economy. Answer: Impact of Globalisation on own Life and Country Globalisation has made national and global economy more integrated and interdependent with one another. The way globalisation has shaped the world in just two decades is unimaginable. Globalization has transformed the roots of human civilization as well as the industries in a different way (Stromquist and Monkman 2014). Along with these developments, globalization has created great challenges as well. With the ongoing process of globalization, the cost of things has reduced to great extent. The taxes and tariffs have got a formal shape. Australia has also opened up its economy to the world in the late 80s. At that time, the nation was suffering from a back lag in its economy (Hirst et al. 2015). There was a declining economy and high rate of unemployment. This situation leaded the nation to open up its door for the globe. The four major business sectors, namely, manufacturing, service, agriculture and the mining industry saw the boost in its sector like never before. This era can be easily marked as the end of protectionism Australia welcomed major foreign firms and investors to do their business in the country. This has also improved the living standard of the people of the nation (Claessens and Van Horen 2015). There is no doubt that the consumption pattern has changed to a large extent. Australia has never seen the number of restaurants and shops that is found in the recent time. Availability of too many options has affected the way I used to consume. Now I look for various options before setting into a particular one. I have tried so many food items from different countries that have been possible due to globalization only. Companies are no longer finding it feasible to carry out any manufacturing activity in a country where the wage rate is high (Stromquist and Monkman 2014). Instead major business activities have been found to shift to other countries where the wage rate is low. Most consumer goods are labour intensive and finding out better options to reduce the cost of manufacturing has reduced the option of competitive advantage of the major business bodies. Australia is getting flourished with the huge supply of products like textiles, footwear, paper and other from the countries li ke China, Indonesia, India and Thailand. On the other hand, it has also been noticed that Australia is losing its low tech manufacturing and has been focusing in high tech manufacturing units (Baylis et al. 2015). This has significantly lowered its manufacturing cost and has provided greater opportunity for the manufacturers as well as the consumers to sell and purchase things. The age of globalization has not only affected the manufacturing sector but the service sector as well. Service sector of Australia takes up 50% share of GDP (Hirst et al. 2015). These sectors include, retail, communication, financial institutes as well as education and tourism. Globalization has strengthened the economy of the market and has made the consumers confident enough to thrive in their relationship with the emerging market (Baylis et al. 2015). The GDP of the nation has grown by more than 7% per year with an increase of 12% of FDI (Claessens and Van Horen 2015). This has automatically given better opportunity to the market of Australia to expand their business even in the fluctuating business market situation. I believe that this way I shall be able to identify better options in my career in future. With the detailed discussion, it can be said that the market situation has changed drastically and so is the consumers behaviour. Globalization has reduced the competitive advantage of many companies and has helped in creating better opportunities for international firms and companies to operate in the global market. This way, consumerism has changed a lot due to globalization. Every individuals life has been affected. There are more options available in the market for the consumers than it used to be. Thus, globalization has changed the way of living by decreasing competitiveness and mitigating increased regional operations. All these changes have influence our regular activities and will also put impact in future. References: Baylis, J., Smith, S. and Owens, P., 2013.The globalization of world politics: an introduction to international relations. Oxford University Press. Claessens, S. and Van Horen, N., 2015. The impact of the global financial crisis on banking globalization.IMF Economic Review,63(4), pp.868-918. Hirst, P., Thompson, G. and Bromley, S., 2015.Globalization in question. John Wiley Sons. Stromquist, N.P. and Monkman, K. eds., 2014.Globalization and education: Integration and contestation across cultures. RL Education.

Montana 1948 Essay Is a Fruitful Field For Critical Analysis

Montana 1948 Essay is Where You Can Show Your Analytical Skills A story of a twelve-year-old boy Montana David Hayden living in a small town is quite a popular assignment for critical analysis essay. Montana 1948’ by Larry Watson is what you expected to cover in Montana 1948 essay. The novel is based on the real-life events happened in Montana 1948. After war small town is an interesting object for analysis. Through the eyes of a boy and his life lessons as well as his emotional feedback on events is an interesting aspect which gives hints into the theme of corruption, anger, etc of the novel. Montana 1948 essay is an essay on the novel ‘Montana 1948’ written by Larry Watson. This essay depicts the story of a twelve years old small boy. The small boy is Montana David Hayden who lives in a small town. He narrates his incident in the novel. In this essay, the writer has to mention all the incidents and events of the novel Montana 1948. This novel is based on the real story of life in Montana 1948, through the eyes of a small boy. The novel is a fruitful field for analysis and many separate aspects can be taken into the focus of the researcher’s attention. Though there are a lot of essays written in the novel, you have to make your own analysis and make a distinctive paper which has a unique touch of its author. However, the important thing to remember is that an essay should not be a plot summary but an emphasis on certain symbolic things. For good essay writing of Montana 1948 essay, you should be perfectly knowledgeable about the novel plot. However, it is not required to concentrate on it too much, rather use it as the basis for your statements, assumptions, and claims. Thus you should find backup information in the body of the novel. Montana 1948 essay can deal with a problem of the internal conflict as well as ideas of morality but whatever you choose you should find relevant support in the body of the novel and analyze the best possible way. Like any other critical analysis essay type, this essay can deal with the characters, theme of the novel and focus on separate ideas offered by the author. It is good to start an essay with an Introduction where one presents a thesis statement and continue its development in the body of the essay which can be divided into separate paragraphs with each covering separate aspects of novel analysis. In Conclusion, one restates the thesis and makes it more prominent so that the reader can agree with you. When you are not sure about coping with Montana 1948 essay, you can ask for professional help at Bestessay4u.com which is a respectable custom essay writing company with a reputation of a reliable partner. They can help you not only with custom essays but with research papers, term papers, dissertations. All you have to do is to place an order and get professional essay writing help online.

Scholarship Essay For Nursing - Writing Tips

Scholarship Essay For Nursing - Writing TipsA nursing scholarship essay for nursing is not always an easy thing to write. While it can be a difficult task to do, a good writer will be able to come up with a very effective essay for the purpose. Here are some things that you can do to help make it easier.Let your clinical note speak for itself. You need to make sure that you give the reader a description of the disease or condition that the student is suffering from and how the treatment of that condition is affecting the patient. If you want to know the reason behind the essay, look at the clinical note that you have written. There should be a clear explanation for your writing.Keep in mind that you need to satisfy the reader. So, when writing, make sure that you do not try to over explain anything. Instead, just keep in mind that you need to concentrate on what you want to say so that you can come up with a very professional looking essay.Think about using examples and words that ar e common in your field. When writing a short essay, you can also use examples and common words to spice up the piece. For example, if you are writing a scholarship essay for nursing then try to use words like treatments, complications, diagnostic tests, diagnoses, medication, treatments, and others. Doing this will ensure that the reader is given a very well rounded experience. They will also get a proper idea on what is actually happening in the hospital or clinic.Another way to keep things simple is to avoid using complicated words and complicated sentences. Try to be as straight forward as possible. There are many things that you have to convey and you do not want to make things harder for yourself by trying to get too technical in your writing. Focus on making a convincing and clear description of the disease and the condition that the student is suffering from.Make sure that you read before you start writing. So, it would be best if you look at some sample essays so that you ca n learn how to write a quality essay on your own. You can use these samples as a guideline and try to incorporate them into your writing. So, you can get a better idea of what needs to be done and what the writer's style should be.Always remember that the medical vocabulary is very big. You need to always keep in mind that the reader needs to understand that you are not talking about some mystery or something that they do not know about. Take your time to make sure that what you are writing is very convincing. Make sure that what you are saying has the right power. It is also important that you keep in mind that you have to come up with a coherent idea for the essay.Make sure that you follow the right instructions for the essay. This will help to make sure that the information that you are providing to the reader is correct and up to date.

Spanish Banks In Latin America The WritePass Journal

Spanish Banks In Latin America Abstract Spanish Banks In Latin America Abstract1.What were the underlying reasons (or motives) behind the internationalization of leading Spanish banks in the 1980s and 1990s?a) What issues should firms consider in selecting international markets to enter? 2.  In light of this, why did the leading Spanish banks target Latin America for their international expansion?ConclusionReferenceRelated Abstract The service sector has in the past few decades seen an increase in the integration of global economies. The expansion of Spanish banks into Latin America is a striking example of the degree of globalization and integration of financial markets that is increasingly taking place across the globe. The leading Spanish banks have augmented their presence in Latin America to become the largest foreign institutions in retail banking In view of the above, this paper sheds a light on the process of internationalization with the aim of seeking answers to these questions: What were the motives behind the expansion? Why did Latin America become the target of this expansion and not other European countries? And lastly, why did the leading Spanish banks mainly enter Latin American market via acquisitions?   Based on the analysis, the paper finds that the expansion was partly due to increasing liberalization and deregulation of financial activities and in part, a result of the integration of Spain into the EU. The paper also finds that the motives or the reasons behind the expansion were to increase client base, attain greater investment diversification and to thrive in the competitive globalized business environment. Latin America not only offered good investment opportunities but also provided a solution to the problem of lack of competitiveness that most Spanish banks faced. 1.What were the underlying reasons (or motives) behind the internationalization of leading Spanish banks in the 1980s and 1990s? The service sector has in the past few decades seen an increase in the integration of global economies. The internationalization of banks is a striking example of the degree of globalization and integration of financial markets that has taken place across the globe (Cardone-Riportella Cazorla-Papis 2001). The massive presence of globalized financial institutions, especially the leading Spanish banks has changed the picture of banking, insurance and pension fund in Latin America (Calderon 2000). Whilst the presence of foreign banks in Latin America is not a new phenomenon, the second half of the 1990s saw the internationalization of leading Spanish banks on an unprecedented scale (Slager 2005). Whereas the expansion process occurred in both periods of the 1980s and 1990s, it was in the 1990s that the degree of internationalization grew significantly (Bejar 2007). Santander first entered Chile in 1978. By 1982, it had already acquired Banco Espanol Chile (Guillen Tschoegl 2000). In 1995 Santander was ranked at position 6 in commercial banking. A further acquisition of Banco Osorno y La Union in 1996 further pushed it to the second position. Its success in the Chilean market is attributed to its superhipoteca, a new mortgage product with aggressive pricing, which allowed the bank to gain 20% of new mortgages (Guillen Tschoegl 2000). Similarly, in Argentina where Citibank and BankBoston had dominated for many years, the two leading Spanish banks, Santander and BBV, acquired some of the most profitable banks. In 1997, Santander acquired Banco Rio de la Plata. On the other hand, BBV acquired Banco de Credito Argentino and Banco Frances (Guillen Tschoegl 2000). But while BBVs acquisition of Banco Frances was okay, the acquisition of Banco de Credito Argentino was accompanied by many integration problems (Guillen Tschoegl 2000). In Mexico, Citibank was the only foreign bank that was allowed to operate. But with Mexico joining NAFTA in1994, it agreed to permit the operations of North American bank and extended the opening to all member states of the OECD (Guillen Tschoegl 2000). BBV became the first Spanish bank to enter Mexico through the invitation of Probursa. By the late 1990s, it had already established its presence in Mexico with over 335 branches (Guillen Tschoegl 2000). BCH became the second to enter by acquiring Banco Atlantico and Bital. Santander came third in 1997, acquiring 61% of InverMexico and Banco Mexicano (Guillen Tschoegl 2000). Just as it did in Argentina and Chile, these leading Spanish banks also introduced new innovative ideas in Mexico, building a strong depositor base but pursuing different strategies. For example, while BBV introduced ‘libreton’ in 1996, Santander mimicked it by introducing its ‘supercuenta’ (Guillen Tschoegl 2000). BBV had within a few months created more than 460,000 new accounts whereas ‘Santander’ boasted of 240,000 accounts (Guillen Tschoegl 2000). This internationalization is a result of the growing financial liberalization and deregulation. Initially, the banking system in Spain was one of the most regulated in the world with restrictive rules that prevented entry of foreign banks. But in the mid-1970s, there was a significant transformation of Spain from being a politically and economically inward looking country to one that was more open and dynamic (Guillen 2005). The process of financial liberalization and deregulation began. This process of change was speeded up by Spain’s accession to the EU in 1986 (Guillen 2005). Among the chief underlying reasons for expansion into Latin America was the need to increase client base, attain greater investment diversification in the high growth potential areas and the need to thrive in the competitive landscape (Sebastian Hernansanz 2000). The deregulation of the 1980s and Spain’s accession to the EU increased competition in retail banking. Spains accession to the European Community in 1986 initiated the process of liberalization and deregulation of the banking sector (Bejar 2007). The deregulation included complete liberalization of interest rates and commissions, new legislations covering pension funds and reforms to the stock market (Parada et al 2009). The process of liberalisation and deregulation was further accelerated with the approval of the Single European Act and Economic Monetary Union which prepared the ground for adoption of the euro within the EU (Bejar 2007). These legislative initiatives had major effects on Spanish banks approach and strategy. The leading spanish banks were obliged to transcend their territorial or rather national boundaries in order to increase their competitiveness, diversify their investments and to protect themselves from acquisitions and takeovers by other foreign firms (Bejar 2007). Thus, given the competitive landscape and the need to diversify investments, the leading Spanish banks had to introduce new strategies to retail banking. During that time, the continent of Latin America displayed good investment opportunities. The leading Spanish banks saw a unique opportunity to attain dimensions in Latin America that would provide them with an edge in the demanding international financial markets (Calderon Casilda 2000). Thus the advantages of localization, the low level of banking services in the region and the growing liberalization led to the expansion of Spanish banks into Latin America (Cardone-Riportella Cazorla-Papis 2001). It follows that the decision to expand into Latin America was driven by the need to exploit the favourable financial system environment in the region and to attain greater investment diversification in Latin America. This would enable the Spanish banks to thrive in the competitive globalized business environment a) What issues should firms consider in selecting international markets to enter? The factors affecting the decision to internationalize activities may vary with a banks chosen entry mode. Whilst determinants such as economic growth and high net interest margin may promote one entry mode, others such as the high concentration in the sector and tax relieves can impact positively on the other structures (Hryckiewicz Kowalewski 2008). Nonetheless, there are certain issues that must be consider when selecting international markets to enter. These can be illustrated clearly with the help of theoretical models. According to the theory of internationalization, companies internationalize value-generating operations based on the advantages derived from such process of internationalization (Slager 2009). The internationalization process materializes through FDI and contributes to value creation if the benefits of using intangible assets across country borders overrun the cost of operating in the foreign market (Rugman 1976). Another model that can explain the decision to expand operations into a foreign market is the Transaction cost theory. Based on the transaction cost theory, the decision to enter a foreign market is determined by acquisition of costs including the cost of managing uncertainty (Williamson 1985). The lack of trust and the presence of uncertainty inform the decisions on whether or not to form alliances, mergers and acquisitions (Bergen et al 1992). Finally, there is the Uppsala model that is often used. According to this model, the focus of internationalization efforts will essentially be on the closer markets due to gradual accumulation of experiential knowledge in these markets which reduces the uncertainty effect (Curci Cardoza 2009). The expansion of these leading Spanish banks into Latin America confirms the predictions of the Uppsala model which views internalization as an incremental commitment based on the accumulation of experiential knowledge in foreign markets. In the 1980s, the re-dimensioning process of the European market had not started yet (Mathieson 2005). Due to increased uncertainty in the Latin American market at the time, banks entered timidly with minimal investments. These Spanish banks thus committed low resources during this period due to the risk involved and given their lack of experiential knowledge in the region. But in the 1990s, the re-dimensioning was already underway and in view of the lesser risk and uncertainty; the Spanish banks began investing in the region by acquiring some of the most profitable banks (Mathieson 2005). Amongst these Spanish banks, the most assertive was Santander primarily due to its strong capital base and previous experience in the region (Guillen Tschoegl 1999). BBV, on the other hand, was at first cautious in investing in the region due to the lack of exposure in the region (Guillen Tschoegl 1999). But later, it increased its investments in the region acquiring a number of profitable banks. This clearly illustrates the benefits of low commitment entry modes and taking time to understand the foreign market before increasing investments. 2.  In light of this, why did the leading Spanish banks target Latin America for their international expansion? The international expansion of Spanish banks into Latin America was speeded up by Spain’s accession to the EU (Curci Cardoza 2009). At the time, competition had grown intensely and it had become increasingly difficult to grow business in the saturated domestic markets. With Spain joining the EU in 1986, it generated a new threat as operation in the Spanish market meant head-to-head competition with the well established European firms (Curci Cardoza 2009). The Spanish banks were thus faced with the dilemma of either competing within the domestic markets or expanding and competing in the international markets. But due to the need for investment diversification and the need to thrive in the competitive landscape, the Spanish banks opted to pursue business internationally (Curci Cardoza 2009). However, owing to the lack of substantial capital, it was perceived not viable to expand into other European countries. Thus, as predicted by the Uppsala model, Latin America became the target of this international expansion since it was psychologically a closer market (Cardoza et al 2007). With this strategy, the Spanish banks protected themselves from acquisitions and possible takeovers by other European companies (Cardoza et al 2007). On its part, Latin America had instituted neo-liberal reforms that included deregulation, liberalization and economic opening (Curci Cardoza 2009). Retail banking in Latin America was during that time in the process of being regulated and given the low level of penetration of foreign firms and the potentially high margins in the region, it offered great investment opportunities (Curci Cardoza 2009). At the time, potential margins were high and the standards of regulating and supervision were rapidly improving (Bejar 2007). Also, Latin America lacke d enough capital resources and demand for banking services was rapidly rising. In view of these, the leading Spanish banks moved to augment their presence in the region and in less than a decade, these banks had grown from being Spain-only operators to becoming major international players in retail banking. Within a short period of time, these Spanish banks had already achieved the status of multinationals and most importantly, they were accorded the status of key world players in the banking industry (Bejar 2007). Their status was moved from being banks confined within the territories of Spain to becoming major international operators whose initiatives were scrutinized around the entire globe (Bejar 2007). Owing to the success of this internationalization process, these Spanish banks now enjoy a sound reputation and are often regarded as a plus factor in countries that they currently operate in. The expansion of these Spanish banks to Latin America was indeed a stepping stone towards their global growth (Bejar 2007).   It is clear from the above as to why the leading Spanish banks targeted Latin America for their expansion. Latin America did not only offer good investment opportunities but the region also provided a solution to the problem of lack of competitiveness that most Spanish banks faced. Why did Spanish banks mainly enter Latin American markets via acquisitions? What are the advantages and disadvantages of this approach compared to other possible market entry modes? There are two main modes of market entry into a foreign market: equity and Non equity modes. The non-equity modes include: the export strategy mode that involves direct and indirect exports; and contractual agreement modes which include research and development contracts, co-marketing strategy, and licensing/franchising among others (Peng 2008). The equity modes include joint ventures and partially owned subsidiaries (WOS). A Joint venture entails some form of FDI in which the foreign firm is allowed a certain degree of control of the entity. The advantages of joint ventures include cost and risk sharing (Peng 2008). Another advantage is the access to knowledge about the host country. Joint ventures are also considered more politically acceptable. There are however certain disadvantages to this mode of entry. First, since it involves partners from different background and with different goals, conflicts are inevitable. Secondly, it may be difficult to achieve effective equity and operational control since everything must be negotiated. Finally, the nature of a joint venture does not give the multinational effective control over foreign subsidiary which may be necessary for global coordination (Peng 2008). On the other side, wholly owned subsidiaries can be achieved in two primary ways: establishing Greenfield operations or through acquisition which is probably the most important in terms of amount of capital involved (Mullineux Murinde 2003). As we have seen in the present case, the mode of entry used by the Spanish banks to enter Latin America is through acquisitions. The two leading Spanish banks, Santander and Bilbao Vizeaya, had in less than a decade augmented their presence in Latin America through some 20 acquisitions (Cardone-Riportella Cazorla-Papis 2001). The advantages of acquisitions as a mode of entry are that it gives the multinational complete control which leads to better protection of proprietary technology (Mullineux Murinde 2003). Also, acquisitions allows for central coordination of global actions. As pointed out by Tschoegl (2003), foreign firms in the long run end up having no comparative advantage in retail banking. For such reasons, acquisition of domestic banks presents the only noble solution. Through acquisitions, these Spanish banks were able to gain greater comparative advantage in Latin America. On the flip side, however, the risks involved both financially and politically are high. The conspicuous foreignness embodied in this mode of entry may become a target for national sentiments (Peng 2008). Additionally, this mode of entry may be affected by post-acquisition integration problems. Nonetheless, the Spanish banks opted to use acquisitions as a mode of entry as this would give them complete control and allow them to gain share rapidly in the Latin American market. Conclusion The expansion of Spanish banks into Latin America reflects the ongoing globalization and integration of financial markets that is increasingly taking place across the globe. The internationalization of the leading Spanish banks can partly be explained by the growing financial liberalization and deregulation and partly due to Spain’s accession to the EU in 1986. Among the chief underlying reasons for expansion into Latin America was the need to increase client base, attain greater investment diversification in the high growth potential areas and to thrive in the competitive landscape. At the time of the expansion, retail banking in Latin America was in the process of being regulated and the low level of penetration of foreign firms and the potentially high margins in the region offered great investment opportunities. Furthermore, Latin America lacked enough capital resources and demand for banking services was rapidly rising. As such, Latin America not only offered good investment opportunities but also provided a solution to the problem of lack of competitiveness that most Spanish banks faced. 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