Cristina Fernandez described Argentina as the ‘counter model’ of IMF and the world’s masters
President Cristina Fernández de Kirchner ratified on Wednesday that Argentina will continue to pay all its financial obligations and described as “absolutely unfair” the ruling from Judge Thomas Griesa who favoured the hedge funds to the detriment of 93% of bondholders who joined the 2005 and 2010 debt swaps.
“We constitute the counter model of a world where the financial capital has become king and master and wants to punish us” stressed the president addressing the Argentine Industrial Union, UIA, annual conference which was held in Los Cardales, province of Buenos Aires and had as a special guest and speaker Brazilian president Dilma Rousseff.
“It’s unconceivable” that a court of New York should have ruled “against a country which restructured 93% of its sovereign debt and has been paying regularly. We have been paying on date since 2005 to the last cent with resources of our own and we'll keep on paying to honour our country's obligations”.
“Part of our self-esteem is to honour our obligations knowing that the country is the counter model of the IMF recommendations and precisely to show a greater willingness to reach an agreement and to pay we reopened the debt swap in 2010 until we reached 93% of restructured bonds”, said Cristina Fernandez adding that the Monday presentation before the Appeals court in New York was “another evidence of our good will”.
The president explained that “the heart of the Monday presentation was that what the New York court was demanding is not a ‘pari pasu’ which means equal conditions in legal terms, but rather ‘an absolute unfairness’ towards the 93% who did accept the debt swaps in 2005 and 2010”.
“Yes we were broke in 2003, but with faith and effort and the reindustrialization of the country and developing our domestic market we moved forward and have been successful. Maybe that is why we are the counter model” insisted the president.
Over 1,200 businessmen attended the two-day event which had UIA president José Ignacio De Mendiguren and Buenos Aires province Governor Daniel Scioli as speakers on the first day. On Wednesday most of the Argentine cabinet turned up at the event together with the president, among which Planning Minister Julio de Vido, Industry Minister Débora Giorgi, Foreign Minister Héctor Timerman, Science and Technology minister Lino Barañao and the Argentine Ambassador to France, Aldo Ferrer.
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The IMF doesn't lie, refuse to pay back loans, then cry about it on the world stage. In fact, the IMF is a success.
Cristina's counter-model lies, refuses to pay back loans, and is constantly crying about it on the world stage. Under her management Argentina has become an economic basket-case and a pariah state.
Well done, Cristina, for destroying Argentina for decades to come. The impact of your inept rule alone on Argentina's reputation has sent Argentina back to the 19th century in the way you handle what we laughingly call your diplomacy.
tha master crook of the arg government calls it unfair to be sued and sentenced to pay their debts.They steal the pensions of thousands of people and hide their 45 billion dollar money in Basel-Switzerland to avoid that the pensioners collect the money from the crook´s account.! To hell with them.
THEY MUST PAY!!
Hopefully the us-government does not vote against their judge Griesa in New York. Than the us-law would comply fully with that of the arg crooks.
The only problem is the Argentine population who obviously don't 'get it'.
Argentina--Bond holder money interrelations are trivial, might be used for distraction or to provide some privileges in Argentina..just the rule of the game in international circus.
Stupid is as stupid does. When will they get it? It is not about how you paid and paid most of your debt by paying less than they borrowed. It is about the details in the terms of the contract that they signed and refused to honor. You were broke then and are broke now...........
Defeat in war is “pacifism”.
Economic failure is a “counter model”.
It is a counter model alright, in the same way failing is counter to success.
Whoever pays CFK to trash Argentina is certainly getting value for money.
You can put a pink fluffy bow on a dog turd, but guess what its still a dog turd.
Of course CFK doesn't define 'her Model' ... that would expose the concept and the detail to world opinion. Too dangerous.
Simple to say - as she herself says - it is the the antitheseis of the model of worldwide business practice.
This is not a 'counter model'
... it is best described as 'The CFK Under-The-Counter Model'.
ARGENTINA ALWAYS THE VICTIM
That aside, one of the IMF recommendations is that Argentina reports accurate inflation statistics. So the counter model is to make them up? Surely if it was a proper counter model it would do away with inflation stats because they have no relevance ? You can't have half a counter model.
Am off to suspend my disbelief.
Where do these people come from? Cristina needs a savage economic backhand for her blatant stupidity and soon.
Nov 29th, 2012 - 03:28 pm
No, tarado, she's left.
“Would you support to return to an economic model set up by the IMF, and backed by the EU, US, China, UK, and Mercosur”?
If you get to 5% assenting, you will make news.
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
@26 Completely wrong but it must be hard for you to judge the mood of a country you have no connection with. I have more knowledge of and have spent more time in Argentina than you ever have.
The latest I heard from my network there is that the atmosphere is 'tense' and people are very dissatisfied with the mess CFKC has made. 'Embarrassed' and 'ashamed' came up a lot. Argentines don't like being embarrassed. And the only thief they talk about is CFKC! Even people that used to support her have turned against her so the tide is turning.
For a couple of days that's it.
Elaine a good amount of my wife's family is still there....BsAs mostly. There really fear that travel and passports will be cancelled. Quite frankly I no longer think TMBOA is a peronist and is an out right communist and I think she is hell bend on creating a blend between Cuba and venezuela.
or you will end up begging in any corner, with your broken english.
goodnight sussie
#31 lol good luck getting a visa to UK or USA neither like muslim , Mexican or Romanian gypsy's, I hear some people execute them minorities at the borders can you elaborate on that? We don't deport foreigners yet but we like the idea of deporting the English turds causing problems in Argentina.
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
haven't you been snowed in yet in Canada? Let me know when you cross the border. I would not talk much about argentina because you obviously are way out out touch in kowing what is going on there.
Left? Left for where?
“If you get to 5% assenting, you will make news”
There are lies, Damned lies, and then there are statistics.............
The only place left that will be able to look after her properly: any establishment for the mentally insane, aka The Nut-house.
full stop.
Why compare Argentina today to argentina of the 90s? thats setting the bar far too low, dont you think? Menems era was a terrible time (well, straight after was, not so much during, when everyone LOVED Menem, youll do well to remember. including your dear leaders the Kirchners.)
Why not compare Argentina with its neighbours, who also went through shitty dictatorships, economic crashes, inflation crises, but have now managed to sort themselves out a bit? Like Brazil, which has brought 35mn out of poverty in the last decade while managing to halve its debt through prudent macro policy working alongside strong social policies? How does KFC's catastrophic macro policy, high inflation, ill thought out social policies which have no capital to sustain them , and divisive rhetoric which has ended up polarising the population and leading to the brink of a social civil war of sorts compare to that?
To be fair, CFK has MUCH more in common with Menem than with lula/ dilma, such as the corruption and wide scale deceit, but still, thats no reason to use the excuse, “well, argentina is better under Kirchner than Menem”. Have some respect for your country. Heighten your expectations! you live in one of the fastest growing regions of the world! Make the most of that while you can instead of shooting yourself in the foot!!! otherwise one day maybe argentina will be worse than it was under menem.
QFT
good post.
Interesting read for all you Kirchneristas out there:
blogs.perfil.com/retro/2012/09/10/cristina-fernandez-de-kirchner-vote-a-menem-en-el-89-y-95-y-creo-que-no-me-equivoque/
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
Cristina may be the 'best in 40 years' but this makes her in no way adequate, it just means that the rest were - arguably - worse.
More likely, it just means that the coalition of opportunists came together to persuade a majority - disproportionately the 'mass underclasses' and under-privilaged - to vote for the rhetoric.
By comparison with presidents in other countries she may not make the top 10, top 100 or even the top 1000.
But if you think she is the best available, then so be it, she is 'yours' and Argentina must live with it until the country choses another - or someone forcibly displaces her.
#51,52 Cristina is not only Argentina's best but one of the very best in the world. Perhaps the best leader currently, or perhaps behind Chavez and Castro, but certainly in the top end of the top 10 =)
err......She voted for Menem? can you not see the hypocracy? you vote for someone, you want them to rule the country. i guess the affinity for a corrupt plastic falseness drew her to him.
I also love the quote in that article, ¿Y qué tienen de malo las contradicciones? Peor es caer en ese mal de los políticos, para los que si sos oficialista todo tiene que estar bien, aunque vaya contra tus íntimas convicciones.
Amazing. It sums her up perfectly. Defends hypocracy, then denounces the evils of leaders thinking they are always right. As we all know, Kretina is so good at accepting criticism gracefully, negotiating, and working with those who do not agree with her. That is why argentine society is so peaceful and cooperative and influential on the world stage right now. Right?
Beautiful? Hmm in a Jocelyn Wildenstein sort of way? I guess the blow up doll market (and the granny porn market) do exist so i guess some people must be into that sort of thing. well, each to their own.
You obviously have great taste in women,I would be ashamed to have SS HITLER CRSTINA KIRCHNER as my leader with over botox lips dirty dyed hair and a mouth like the lincoln tunnel,but each to there own,have you seen how monstrous her children look also
latitude.blogs.nytimes.com/2012/11/22/the-continuing-cult-of-nestor-kirchner-may-augur-the-end-of-argentinas-ruling-family/
Like in North Korea, the Great Leader has his 'Mansion House Dancing Girls' who are selected from the village schools to fulfill all his basest desires, Fat Max probably has a similar set of argentine females that he routinely crushes.
“CFK is the best president Argentina had in 40 years ”
In 1938 Adolf was the best Reichkansler Germany had in 40 years.
So, they have a parallel to the terrorist militants of the Sturmabteilung, called La Campora and now they're setting up the Hitler Youth. It's only a matter of time before KFC is surrounded by her own version of the SS because she needs 'extra protection' from the mobs. This is in addition to legislation to keep her in office indefinitely, just like their uncle adolf achieved.
Even the irish are laughing about this... www.irishtimes.com/newspaper/world/2012/0917/1224324092052.html
@62 I think Nestor's parents came in with yugoslavian passports, which given their clearly germanic name implies the catholic church probably helped to get them out of Germany through one of the rat-lines that their friends in switzerland set up.
@63 Maybe Argentine ladies have lower standards than other women.
Around elephant seal colonies, certainly, though the females probably prefer their own kind who are slimmer than Maximo.
www.policymic.com/articles/10874/why-argentina-president-cristina-fernandez-de-kirchner-has-failed-at-handling-the-falklands#
Unless somebody can come up with some irrefutible evidence, I suggest we knock such comment on the head.
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