The main problem with the Latin American schemes, Ms Queisser points out, is that the systems' running costs have been large (though in Chile's case not big enough to alter the fact that returns to investors have been high).

ECONOMIST: Latin lessons on pensions

The arbitrary judicial action of proscribing a book that dares to criticise judges hardly helps the government's case, in its pleadings in Britain, that Chile's courts are capable of judging General Pinochet.

ECONOMIST: Chile

Earlier this month, the Spanish government reluctantly turned down Chile's request for international arbitration in the case.

ECONOMIST: The Pinochet case