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Edition: U.S. Article Comments (0) Slideshow Save Email Print Reprints Most Popular Most Shared Massive earthquake kills 82 in Chile | Video 10:41am EST Hawaii prepares evacuations ahead of tsunami 10:04am EST Giant iceberg breaks off from Antarctic glacier 26 Feb 2010 Chile quake generated tsunami: USGS 3:17am EST I cannot underestimate Clottey, says champion Pacquiao 26 Feb 2010 Massive earthquake kills 82 in Chile | Video 10:41am EST Giant iceberg breaks off from Antarctic glacier 26 Feb 2010 Hawaii prepares evacuations ahead of tsunami 10:04am EST Strong quake hits Japan's Okinawa, no major damage 26 Feb 2010 Military allows Twitter, other social media 26 Feb 2010 Colombian election race starts, Santos favored Andrew Cawthorne and Patrick Markey BOGOTA Sat Feb 27, 2010 6:56am EST Factboxes Factbox: Facts about Colombia's President Alvaro Uribe Fri, Feb 26 2010 Factbox: After Uribe, who's in line for Colombia's presidency? Fri, Feb 26 2010 < 1 / 2 > View Full Size BOGOTA (Reuters) - The race for Colombia's presidency began on Saturday, with former defense minister Juan Manuel Santos the favorite after the South American nation's popular incumbent was blocked from running for a third term. World The Constitutional Court's decision to bar a referendum on re-election heralds an end to President Alvaro Uribe's eight-year rule, during which the U.S. ally beat back left-wing guerrillas, stabilized its economy and drew investors. With Colombian politics fixated for more than a year on the re-election issue, and polls showing Uribe would have won easily if allowed to run, Friday's ruling represented a starting gun for other presidential aspirants. "The happiest man in Colombia today is Juan Manuel Santos," said one of his rivals in the May 30 presidential election, Gustavo Petro, of the leftist Democratic Pole party. Uribe's former defense minister -- who also held the finance portfolio in a previous government -- is closely associated with the U.S.-backed security policies that have made Uribe the nation's most popular president, and helped Colombia escape its past image for violence and chaos. "The continuity of President Uribe's policies are at stake," said Santos, confirming his candidacy and rallying supporters. "We can't re-elect him, but let's re-elect democratic security, social cohesion and investor confidence." Before the presidential vote, a March 14 parliamentary election will test the political waters, and a certain amount of realigning among Uribe's ruling coalition is expected. Uribe is expected to back Santos, who heads the president's Social National Unity Party. But Uribe's alliance partner the Conservative Party could put up its own candidate. Sergio Fajardo, an independent candidate and former mayor from Colombia's second city Medellin, is hovering behind Santos in the polls. And would-be Conservative Party candidate Noemi Sanin could be a challenger if the Uribe alliance splits. GOOD FOR DEMOCRACY "A new presidential campaign is born," former president Andres Pastrana said, hailing the court's decision as evidence of the strength of Colombia's institutions. "We have saved the constitution, we have strengthened democracy." On the streets, where the Uribe re-election saga has gripped Colombia's 44 million people like a national soap opera, reaction was mixed. Some said it was right for the president to bow out, while others feared instability. "It's not a good thing because he was freeing us from the guerrillas, and I'm afraid the next one may ease up on that," said Bogota housewife Amanda Bellos, 43. Economists said the political transition in Colombia could cause a short-term wobble in the peso currency and local TES debt markets. But they forecast long-term stability, with the next leader likely to follow Uribe's broad policies, perhaps with more emphasis on social development. Under the conservative Uribe, foreign money has poured back into Colombia, a top coffee exporter and Latin America's No. 4 oil exporter. "We expect to witness some level of political noise until the elections in late May (and a likely run-off in June) but do not expect the presidential transition to bring about a major change in the direction of investor-friendly macro and financial policies," said Goldman Sachs analyst Alberto Ramos. While keeping up the fight against Latin America's oldest insurgency and Colombia's money-spinning cocaine trade, the next leader will have to shepherd the nation out of recession and combat rising unemployment. (Additional reporting by Javier Mozzo, Nelson Bocanegra and Luis-Jaime Acosta; editing by Patrick Markey and Todd Eastham) World Add a Comment More from Reuters Massive earthquake kills 82 in Chile SANTIAGO (Reuters) - A huge magnitude-8.8 earthquake struck Chile early on Saturday, killing at least 82 people, knocking down homes and hospitals, and triggering a tsunami that rolled menacingly across the Pacific. | Video Berkshire net rises UK's Prudential in talks to buy AIG Asian arm: sources Hawaii prepares evacuations ahead of tsunami German official denies report on aid for Greece Obama: Healthcare reform can't wait a generation | Video » More Top News Global Post: Brainwashing with comics Mighty Wing, Pyongyang's equivalent of Mickey Mouse, is just one of many comic book figures offering a glimpse into North Korea's bizarre regime. Full Article North seeks military talks with South Global News Journal Vancouver 2010: Winter Games come to a close The Vancouver Games wind down with the final 11 gold medals up for grabs, highlighted by the men's hockey final between U.S. and Canada. Full Coverage Winter Olympic notebook Live Coverage: Winter Games chat 2010 winter olympics © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal EVCJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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