Wednesday, November 20th 2013 - 05:22 UTC

Cristina Fernandez most emblematic and faithful “K soldier” sent to Italy

On Tuesday, one day after resuming her Executive duties, Argentine president Cristina Fernandez accepted the resignation of the most emblematic of the Kirchner-couple bullying tactics, a true 'K soldier' who has been on the job since 2005 and was expected to step down with the lady in 2015.

Guillermo Moreno, had almost absolute powers to combat inflation but to no avail

 As of 2 December Guillermo Moreno will no longer be Interior Trade Secretary and his next post is in Rome as economic advisor of the Argentine embassy. The announcement was made at Government house by the presidential spokesperson Alfredo Scoccimarro.

The man responsible for keeping inflation under control, be it by manipulating stats, challenging or imposing fines on those who released indexes different to the officially supported, or calling on business leaders very early morning to his office to question them on prices with a loaded gun on his desk, had become a symbol, feared symbol, of all that which is wrong or not working under Cristina Fernandez.

The dollar clamp and the end to savings in dollars in Argentina were lobbied and openly argued by Moreno.

But his removal was so unexpected that both incumbents and opposition were not completely sure how to react or how much they could actually cheer.

The fact is that Moreno' removal also means a greater concentration of power for the newly appointed Minister of Economy, Axel Kiciloff, considered ideologically closer to Marx than to Keynes and most probably will further advance on the Argentine economy.

Moreno had also mingled in foreign policy, sponsoring trade missions to extravagant destinations such as Angola; interrupting shareholders assembly of multimedia Clarin, the archenemy of the Kirchners, or banning imports, or trying to make corporations to buy the latest whitewash bonds or simply suspending grains, beef or dairy produce exports to privilege the domestic market.

The removal, given his conflicting personality, style and public opinion impact, is thus more significant than that of a minister, and the big question remains, why was he demoted and why not announced when the main cabinet reshuffle?

It could mean a government change of policy or putting the blame of the adverse 27 October post-election government weakness. Markets however had no second thoughts about the naming of Kiciloff and removal of Moreno, who were to a point tactical allies in the infighting of Cristina Fernandez cabinet.

On Wednesday when Kiciloff is sworn in as minister, together with the other names for cabinet chief, central bank president and Agriculture minister, among others a clearer picture will emerge.

57 comments Feed

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1 Acchiappaladri (#) Nov 20th, 2013 - 08:08 am Report abuse
Lorenzino in Brussels ... now Moreno in Rome?!?!?!?!
please Argies keep your crap to yourselves.
Moreno wouldn't be welcome here.
2 RICO (#) Nov 20th, 2013 - 08:14 am Report abuse
Is the crew abandoning the good ship Argentina? Or are the rats trying to find a safe birth in countries where they can seek political asylum if there is a change of government. No No, I don't know where all the money went, you can't send me back it is a politically motivated prosecution.
3 toxictaxitrader2 (#) Nov 20th, 2013 - 08:58 am Report abuse
I think this means there will be a significant result on inflation figures following the I.M.F. intervention .
Moreno needs somewhere to hide!
Also can he avoid the prosecution for illegal fines on statistic publishers??
4 GALlamosa (#) Nov 20th, 2013 - 10:27 am Report abuse
Wonder if he has an Italian passport ?
5 Marc1 (#) Nov 20th, 2013 - 10:38 am Report abuse
This was hoped for, but unexpected.
Moreno, the ugly face of Kirchnerism, probably ended up on the wrong side of an ultimatum from Kiciloff.
I imagine Rome was part of the deal so that he didn't get lynched in public.
6 Mendoza Canadian (#) Nov 20th, 2013 - 10:41 am Report abuse
Economic “adviser”? What a joke. Send a clown to a foreign country. Down goes the AR image...if that is possible.
7 Nostros (#) Nov 20th, 2013 - 10:50 am Report abuse
I don't think even in Italia this man is safe, nor welcome. Typical for Argentina to send there sh*t exports abroad.
8 ChrisR (#) Nov 20th, 2013 - 11:47 am Report abuse
He will have to get himself a Beretta 92F, they won't have any Argie shit Bersa in Italy.

Perhaps the mafia will “look after him” for TMBOA?
9 yankeeboy (#) Nov 20th, 2013 - 12:17 pm Report abuse
In any other country a bully/crook/scumbag leaving office would be a good sign, unfortunately in Argentina it means it is going to get worse very quickly as they fully embrace Marxism.
Looks to Venezuela Rgs look to Venezuela
That is your near term future
10 Marc1 (#) Nov 20th, 2013 - 12:21 pm Report abuse
God forbid.
11 Captain Poppy (#) Nov 20th, 2013 - 12:39 pm Report abuse
I think you're correct Yankee. She and they know that their time is running out to make big changes. In the remainder of their time left I think they are going to run “balls to the wall” in making as many changes as they possibly can while they can. Argentina is going to get worse.....much worse in the coming months. Some of my extended family in BsAs said that the inflation is so bad that month to month they amount needed to get through the month is incredibly high and wage increase have absolutely no impact. They think that it's closer to 40%
12 yankeeboy (#) Nov 20th, 2013 - 01:02 pm Report abuse
I predicted last year inflation would be closer to 40 than 30 by the end of the year. I stand by the prediction.
The HUGE increases in food will be the driver.
Any guess on the Blue Peso 2014? 15? 30?
Who knows...
13 Klingon (#) Nov 20th, 2013 - 01:55 pm Report abuse
Glad that douche bag has gone. I am sure the investment community told the K government they wouldn't touch Arg as long as he was there. Good or bad only the future will tell, but at least there are changes.
Yesterday in Jumbo a customer bitched to me about the price of Mate. 50 pesos for 1 kg of Mate Everyone is really noticing the inflation now.
14 Conqueror (#) Nov 20th, 2013 - 01:57 pm Report abuse
Will Moreno even get to Italy?
15 Marc1 (#) Nov 20th, 2013 - 02:10 pm Report abuse
He was her thug and hard man who abused his position to become the most loathed figure in the regime.
By rights, he should be arrested, but we all know that won't happen.
It's really biting now much harder than before.
16 Condorito (#) Nov 20th, 2013 - 03:01 pm Report abuse
Jumbo (a Chilean supermarket) selling mate (an Argie product) to Argies.

How long before they start crying that the nasty Chileans are profiteering at their expense?
17 ChrisR (#) Nov 20th, 2013 - 03:17 pm Report abuse
I am waiting for them to run out of toilet paper.

Then the fall will be swift after that.
18 kelperabout (#) Nov 20th, 2013 - 03:25 pm Report abuse
CFK is probably quietly moving this guy out of the Country because she knows only to well that she no longer has much control over the county and this is likely to be the way to start protecting many more of her henchman from future prosecution when they are removed from power. Seen that happen post 1982 conflict.
19 Usurping Pirate (#) Nov 20th, 2013 - 04:51 pm Report abuse
Maybe he's a member of P2 and has been sent there so he can attend lodge meetings ?
20 GFace (#) Nov 20th, 2013 - 05:02 pm Report abuse
Exile or Parachute?
21 Think (#) Nov 20th, 2013 - 05:22 pm Report abuse
(1) Acchiappaladri

Caro Gianluca.....
You say...:
“Please Argies keep your crap to yourselves.”

I say...:
I wish you had kept YOUR crap in Italy.....
Quick off the top of my head...:
Eduardo LONARDI…, Juan Carlos ONGANIA…, Pascual Angel PISTARINI…, Emilio Eduardo MASSERA..., Orlando Ramon AGOSTI..., Roberto Eduardo VIOLA…, Armando LAMBRUSCHINI..., Abel Teodoro CATUZZI..., Omar GRAFFIGNA..., Leopoldo Fortunato GALTIERI…, Reynaldo Benito BIGNONE…..... and too many others.........

Besides, Moreno is not so bad...
And he is very good at controlling...
Maybe he could help you control the ATAC tickets...?
22 CabezaDura (#) Nov 20th, 2013 - 05:30 pm Report abuse
21) And you get to break my balls after calling the Italian cowards for their WWII behavior claiming I was offending my compatriots
(when I was not)

Now some Italians are crap why are those italo argentines you listed not considered “Human”...???Odd standards you have
23 Captain Poppy (#) Nov 20th, 2013 - 05:42 pm Report abuse
#18 that was my first thoughts as well. I sure she paid him off significantly for being her hired gun, with embezzled funds as well. In order to protect herself she needs to start sending off her accomplishes and the ones that are most likely to fall first and the hardest. The opposition is going to start to demand accountability of the destruction the Kirchner's rained onto Argentina over that past “Decade of Destruction”.
24 Think (#) Nov 20th, 2013 - 05:43 pm Report abuse
(22) CabezaDura
They are crappy humans......
25 ChrisR (#) Nov 20th, 2013 - 06:28 pm Report abuse
@ 24 Lunatic

Well, you should know.
26 Condorito (#) Nov 20th, 2013 - 07:01 pm Report abuse
According to Barclays:

“Moreno's resignation substantiates our policy shift thesis, and we think it is supportive for asset prices. It is a signal that the president is invested in the need to pursue changes, even if these imply relevant political costs, to retain power in the next two years. The removal of Moreno was requested by the business sector, the political opposition, governors of the peronist party and markets – sectors to which the president has been reluctant to concede in the past. The need to maintain governability until the end of her term is the major driver of these changes, in our opinion.”

Maybe the removal of those blood clots did some good.
27 Conqueror (#) Nov 20th, 2013 - 07:13 pm Report abuse
@24 argieland needs to be eradicated. Probably best to vapourise the first 200 metres down from the current ground level. And everything above. Down to sub-bacterial level.
28 Briton (#) Nov 20th, 2013 - 07:15 pm Report abuse
Perhaps he is hoping,
That being so near the pope, a fellow argentine who is fast becoming a glamorous celebrity,

He thinks some of the shine will wear off on him.

The sun shines in some mysterious places lol..
29 CabezaDura (#) Nov 20th, 2013 - 07:51 pm Report abuse
Yet Moreno believed in what he was doing, he thought of himself as a true soldier of Kirchner and his wife. What’s next is the same stupid policies but with better manners

Argentina according to Conqueror....
30 Think (#) Nov 20th, 2013 - 08:06 pm Report abuse
(26) Condorito

“According to Barclays:”...:
In their opinion, “Moreno's resignation substantiates their policy shift thesis.......
It is a signal that the president is invested in the need to pursue changes, even if these imply relevant political costs, to retain power in the next two years.....

Acording to Think...:
Suuuure.........; that's why they designated Kicillof as Economy Minister!
With this quality of “Financial Analysts”, it is no wonder that the whole World has, during the last six years, endured the biggest financial crisis since 1930......
31 Pete Bog (#) Nov 20th, 2013 - 08:13 pm Report abuse
“as economic advisor of the Argentine embassy”

Is this to advise people how not to run an economy?

Or to advise the Embassy how to run their finances?

Dear EU,

We have this marvellous economic device called INDEC.

It can make the EU rich.

How much are you offering me for it?

Yours, with rose tinted spectacles,

32 toxictaxitrader2 (#) Nov 20th, 2013 - 08:46 pm Report abuse
@27 Conker
At least 800,000 Argentinians of British descent,and you want to vaporize them!!
33 Condorito (#) Nov 20th, 2013 - 10:50 pm Report abuse
@30 Think

Would be in the Capital Economics camp then:

“Several high profile changes to Argentina's cabinet have reawakened speculation that the country is on the brink of formalising a multiple exchange rate system. If the experience of Venezuela is anything to go by, changes of this nature will do little to solve Argentina's dollar drought. Instead, the more likely outcome will be further arbitrage, inefficiency and corruption.”
34 A_Voice (#) Nov 21st, 2013 - 12:11 am Report abuse
Hey Pops off topic I know, but you being a US property owner can you do me a favour? I've received this through the post.....

Dear Taxpayer
Lycoming County has initiated a reassessment. Below is the information that is on record for your property. Please review the information that is listed on your parcel, if you find an error, please make the corrections and return the form in the postage-paid envelope.

There is a question…..
The roof is_________
Are they asking me what the roof covering is? It is Shingle do I put Shingle?
This is a serious question as I don't want them falling about laughing….saying hey this guy has put Shingle…
How's this for a sign of the times there's this question…..
Is your property leased for oil/gas? YES / NO If yes, how many acres?
Haha I must be about the only one in the area that hasn't....;-))
35 Captain Poppy (#) Nov 21st, 2013 - 01:45 am Report abuse
36 St.John (#) Nov 21st, 2013 - 02:20 am Report abuse
One must ask why Guillermo Moreno was sent to Italy.

Is it because Argentina doesn't have an embassy in Mongolia?
37 Marcos Alejandro (#) Nov 21st, 2013 - 04:01 am Report abuse
21 Think
We can forgive a few:
Esteban Baglietto, Alfredo Scarpatti. Thanks to them we have Boca Juniors. :-)
38 DanyBerger (#) Nov 21st, 2013 - 10:18 am Report abuse

oh! may be these argies will clean up the corruption in Italy which it is really bad there.

Still paying “la tangente” a Milano and in terroni land?

Oh! cazzo siamo rovinati ragazzo.

Ce la fame la adesso vero?

Cossa possiammo fare? Niente ha ha

Well for the Germans wanna be here (after all they like to say that they are something saxon ha ha)

Argentina is growing at 4.7% while Ukistan 1.5 if lucky

And before idiots start to say that 4.7% of nothing.. bla, bla Ukinstan only will get 10bn more than argiland.

But Ukistan has huge debt, huge trade deficit, and a bad balance of payment. So Argies are performing more than very well in economic terms.

Orthodox economists have failed their own market test
Students are demanding alternatives to a free-market dogma with a disastrous record. That's something we all need

oh! wow what?
39 The Chilean perspective (#) Nov 21st, 2013 - 10:39 am Report abuse
It appears that Kicillof has received his reward. Banging the boss is a time honoured tradition and it has brought him good results, although last time he got a little rough with Cristina, maybe she ought to get a padded bedhead. Alex got Moreno and Marcó del Pont fired giving him unlimited power to pursue his own brand of Keynesianism mixed with Marxism. The state will now control even more of the economy and we will start to see the obvious results from this policy. Everyone has seen this movie before and it ends badly, no spoiler alert needed.
40 yankeeboy (#) Nov 21st, 2013 - 02:43 pm Report abuse
39. Rumor is Axel is gay. So if he actually have sex with that monster he deserves more than a job.
41 Captain Poppy (#) Nov 21st, 2013 - 03:44 pm Report abuse
He is the one that was booed coming back from vacation on the ferry with his wife. She was frantic as the crowed booed them off the He may have as much as twenty exchange rates for the peso.
42 A_Voice (#) Nov 21st, 2013 - 04:43 pm Report abuse
Yes Pops it's a serious question and I have no idea if this is a normal assessors question...

It's a County wide assessment for an update market value of all properties...the last one was in 2004... so that the County can equalise the tax base and ensure that property owners are only paying their fair share....using the Market Approach the Cost Approach or the Income Approach, so the leaflet says.

The roof is________
I was tempted to put.....“on top of the house”
...but it's Rednecksville and I doubt they would appreciate the humour...
I would call them and ask, but they always have difficulty understanding my accent...
So would I be right in putting Asphalt Shingle?
Or more information like... Timber Rafters, half inch OSB and Asphalt Shingle Covering?
....Being a US property owner your opinion would be appreciated?
43 Think (#) Nov 21st, 2013 - 05:56 pm Report abuse
( 37 ) Marcos Alejandro
Well......., I guess we can forgive those two.....
As “El Flaco de Pelo Largo” said...:
“Father, forgive them, for they didn't know what they were doing.” ;-)

(42) A_Voice
OSB & asphalt shingle huhhhhhhhhhh?
Practical................., I reckon.
44 A_Voice (#) Nov 21st, 2013 - 06:28 pm Report abuse
43 Think
Yeah..I renewed the whole roof. It's common practice in Scotland to use OSB (sarking board) over timbers, then felt, then Slate ...though not in England where traditionally they use just felt then slate or concrete tile on battens...
The Yankee roof would never take the weight of Slate or Concrete Tile...
....Do they do it differently where you are?
45 Think (#) Nov 21st, 2013 - 10:13 pm Report abuse
(44) A_Voice
You ask...:
“Do they do it differently where you are?”

I say...:
Not really..... Argentina is very much a developing country in construction techniques.... Ugly roofing...., bad plumbing....., draughty windows ..... A bit like England some 50 years ago, you know;-)

In my specific case, I would have liked a Fitzroya shingle roof but, as it has been banned to protect them trees, I had to settle for another solution....
46 Marcos Alejandro (#) Nov 22nd, 2013 - 05:07 am Report abuse
43 Think :-))
47 Think (#) Nov 22nd, 2013 - 08:58 am Report abuse
(46) Marcos Alejandro

:-)) to you too, and.................................................................. Muera Boca!
48 Usurping Pirate (#) Nov 22nd, 2013 - 09:23 am Report abuse
Maybe Moreno was sent to Italy to settle Marradona's tax bill .
Next stop Spain to sort out out Messi's bill there.
49 ChrisR (#) Nov 22nd, 2013 - 02:35 pm Report abuse
42 A_Voice

So, you are not English then, or they would have understood you and, in my experience, asked you if you came from London.
50 A_Voice (#) Nov 22nd, 2013 - 07:36 pm Report abuse
Interesting conclusion....but I'm guessing your ”experience of the US is confined to tourist destinations or people more familiar with Internationals...
When you get out in the sticks you will find they only understand accents they are familiar with, how do you think they would manage with broad Glaswegian or Geordie or what is yours...a Brummie accent?
Most of them have never been out of the States....
Unless you affect a Stewie Griffin (Family Guy) accent you are fighting a losing battle and if you do....and I have at times....all you get is “Gee I just love your accent” so it's best not....
Mostly I get described as German when speaking quickly so I stick to basic affirmations ”Ugh huh!.....
Nice try though.....
51 Think (#) Nov 23rd, 2013 - 12:38 am Report abuse
(50) A_Voice
If you ever cruise the interstate 80 due west, cross the Ol’ Man river and drive through Laramie you would be nearby my American hideout somewhere between Rawlins and Rock Springs…..

Ask for “El Think”… :-)))
52 Marcos Alejandro (#) Nov 24th, 2013 - 05:15 am Report abuse
51 Think
Can chickens survive the Wyoming cold weather? :-)
53 Think (#) Nov 24th, 2013 - 10:04 am Report abuse
(52) Marcos Alejandro

We “Chickens” can survive everywhere....
It's just a question of proper clothing....
54 El capitano (#) Nov 24th, 2013 - 01:21 pm Report abuse
55 Think (#) Nov 24th, 2013 - 01:26 pm Report abuse
(54) El capitano

Don't you have any good cynegetic stories from Canada to share with us?
56 Marcos Alejandro (#) Nov 24th, 2013 - 05:29 pm Report abuse
53 Think
I don't looks frozen to me :-))
57 Think (#) Nov 24th, 2013 - 05:44 pm Report abuse
(56) Marcos Alejandro

What could be expected from a bostero... ?
That's not a frozen chicken...
That's a cool chicken...!

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