Editing Drago Doctrine (section)

==History==
It grew from the ideas expressed by [[Carlos Calvo (historian)|Carlos Calvo]] in ''Derecho internacional teórico y práctico de Europa y América'', commonly known as the [[Calvo Doctrine]]. The Calvo Doctrine proposed to prohibit diplomatic intervention before local resources were exhausted. 

The Drago Doctrine itself was a response to the actions of Britain, Germany, and Italy, which, in 1902, had [[Venezuela Crisis of 1902–03|blockaded Venezuela]] in response to Venezuelan government's refusal to pay its massive foreign debt that had been acquired under previous administrations before President [[Cipriano Castro]] took power. Secretary of State [[John Milton Hay|John Hay]] was taken aback by the reference to the [[Monroe Doctrine]] and delayed six weeks before responding by quoting [[Theodore Roosevelt]]'s 1901 annual message to Congress: "We do not guarantee any state against punishment if it misconducts itself."<ref name="beneath" />

Roosevelt himself, although he would lavish praise on Drago's doctrine in later years, had earlier written in his capacity as Vice President to the German diplomat [[Hermann Speck von Sternburg]] that "if any South American State misbehaves towards any European country, let the European country spank it."<ref name="beneath" />

The Drago Doctrine was used by [[Venezuela]] as a rationale for its vote in support of Argentina at the [[Organization of American States]] meeting on the [[Argentine debt restructuring|Argentine debt crisis]] that involved [[NML Capital]].