Argentine insurance companies ordered to repatriate foreign investments

Thursday, October 27th 2011 - 15:43 UTC

Full article 7 comments

In a further attempt to ease the pressure on the dollar and decrease the outflow of the Central Bank's foreign currency reserves, the Argentine government ordered insurance companies to repatriate their foreign investments. Read full article

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wesley mouch
The Peronists are the Tony Sopranos of politicians. Everything that is in the country will be stolen and given to cronies. Just look at Ms Bonafini. Rich as Croseus on money CFK gave her.
Oct 27th, 2011 - 04:24 pm - Link - Report abuse 0
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atk357
Democratic elections??? may be!! but all CFK's measures are more left-socialist than anything else. Too much government intervention is contrary to basic business practices. What are they getting all this absurd ideas from?...I wonder why people with money converted their savings into dollars!!
Oct 27th, 2011 - 05:47 pm - Link - Report abuse 0
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O gara
too much government intervention is indeed contrary to basic business practice but too little seems to be contrary to best care for people practice.
Argentines right now notice that government intervention has brought indudtrialization and prosperity while under De la Rua and Menem what you call good business practice led to mass poverty.
interestingly all the counries growing rapidly over the last decade have huge government intervention in their economies with of course China being the classic example.Certainly cronyism is a precursor to certain levels of corruption but light regulation certainly did wonders for Ireland didnt it?
Oct 27th, 2011 - 06:10 pm - Link - Report abuse 0
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wesley mouch
When Obama and CFK meet he will learn much. How to confiscate pensions, how to have suitcases of cash from abroad delivered to help win elections, how to muzzle the media via laws, how to create poverty and then use it to get support via handouts. It has worked brilliantly for the Peronists and Obama is a tanned version of these fascists.
Oct 27th, 2011 - 07:07 pm - Link - Report abuse 0
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xbarilox
the storm is getting closer and closer, open your umbrella people...
Oct 27th, 2011 - 08:44 pm - Link - Report abuse 0
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yankeeboy
Repatriate it so she can confiscate it like she did with Anses. This is really scary. Right from the Chavez playbook. Yikes.
Oct 28th, 2011 - 01:00 am - Link - Report abuse 0
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xbarilox
Jorge L. Borges once said that it's not love that unites us (the Argentines) but fright. It looks like the truth to me :)
Oct 28th, 2011 - 02:05 am - Link - Report abuse 0
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