By Greg Brosnan

MANAGUA (Reuters) - Cold War leader Daniel Ortega returns to power in Nicaragua on Wednesday, giving Venezuelan President Hugo Chavez a new ally as he tries to steer Latin America to the left and away from the United States.

Ortega, who first took power in a 1979 revolution and then led a Marxist government for 11 years while fighting a brutal civil war against U.S.-backed Contra rebels, completed a remarkable comeback by winning a November presidential vote.

The balding 61-year-old says he is still a socialist but has dropped many of his radical economic policies from the 1980s, saying he has learned from his mistakes.

Ortega promises to respect private property and the free market this time around even as he fights extreme poverty. He preaches reconciliation and has gained the trust of the Roman Catholic Church and some former battlefield foes.  Click here for the full article.