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Argentine president pledges to turn her dollar savings into Pesos and urged ministers to follow

Wednesday, June 6th 2012 - 22:59 UTC
Full article 24 comments

Argentine President Cristina Fernández insisted Wednesday on the need of saving in Pesos instead of US dollars and announced that she would “pesify” her dollar fixed-term bank deposit, urging her ministers to do the same. Read full article


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  • Simon68

    Well that's a step in the right direction, but US$3m is only a drop in the ocean of her fortune, what about the US$370m that she holds?

    I'd be much more impressed if she “pesified” the whole lot instead of about 1% of it.

    Still she gets a couple of points for trying.

    Jun 06th, 2012 - 11:10 pm - Link - Report abuse 0
  • Condorito

    What exchange rate will she use?

    Jun 06th, 2012 - 11:11 pm - Link - Report abuse 0
  • Simon68

    6 to 1 I'll bet!!!

    Jun 06th, 2012 - 11:14 pm - Link - Report abuse 0
  • rnbgr

    Good move, (except the shot at the Grandfather) are the CFK hotels going to change to Pesos only ?

    Jun 06th, 2012 - 11:17 pm - Link - Report abuse 0
  • Simon68

    She really shot herself in the foot over the grandpa scrooge!
    Whoever set up that little joke for her speech will no doubt be joining the growing ranks of the unemployed!

    Jun 06th, 2012 - 11:56 pm - Link - Report abuse 0
  • Chicureo

    Simon, I'm truly sorry for you and all the decent good Argentineans that are about to see the Peso collapse. This is an act of silly desperation which will cause more anxiety and insecurity within your country. The comments in the Chilean financial sector are that CFK can not much longer hold up the house of cards that are on the verge of falling apart any moment.
    Sad, really sad, but the voters pushed this through.

    Jun 07th, 2012 - 12:12 am - Link - Report abuse 0
  • KFC de Pollo

    her dollars en blanco or en negro?

    smoke and mirrors!

    Jun 07th, 2012 - 03:28 am - Link - Report abuse 0
  • GreekYoghurt

    KFC: “Unemployed grandpa can only afford $10? Hahhaha, Qu'ils mangent de la brioche!”
    *goes back to a Maximo hotel charging in dollars*

    Jun 07th, 2012 - 05:06 am - Link - Report abuse 0
  • Idlehands

    I imagine they'll dump dollars but won't be buying Pesos with it. It will probably be used to buy real estate - or gold.

    Jun 07th, 2012 - 06:19 am - Link - Report abuse 0
  • willi1

    3 million - that´s only that what is deposited in arg - the big rest is in Switzerland.

    Jun 07th, 2012 - 07:34 am - Link - Report abuse 0
  • GreekYoghurt

    @9 If they follow precedent then they'll buy hotels, just like KFC, and Maximo have been doing with all their newly found income.

    Jun 07th, 2012 - 10:17 am - Link - Report abuse 0
  • Welsh Wizard

    Is it at all pertinent that they are talking about “fixed term bank deposit” rather than “we will pesify all our US$ savings” I noted that on a couple of blogs the Argentinean bloggers said that this was a nonsense as they could just be turned back at the end of the fixed term.

    Do any for our Argentinean friends have any insight?

    Jun 07th, 2012 - 01:06 pm - Link - Report abuse 0
  • Simon68

    6 Chicureo (#)
    Jun 07th, 2012 - 12:12 am
    Thanks for the sympathy, there is no way she can keep this together for more than a month or two. I foresee a very big crash. The only saving grace of all this is that it isn't the first time, it is a sort of cyclical happening with the peronist governments, so we are innoculated against despair to a certain extent.

    12 Welsh Wizard (#)
    I don't think Kretina will leave us with a single dollar, she's going to use every one she can get her hands on to try to keep the economy going for as long as she can before leaving to join Nestor in Venezuela!!!!!

    Jun 07th, 2012 - 01:39 pm - Link - Report abuse 0
  • British_Kirchnerist

    Great move my Queen, if even seasoned haters like #1 are calling it a step in the right direction it really shows what a brilliant political genius she is to turn such hard hearts =) As for the dig at the grandad, I could say she was let down by a flunky but I actually think she comes across as one of those rare and precious politicians who actually write their own material, in other words she says what she means and means what she says. And isnt it weird that he only wanted to give them $10; if he was poor and that was all he could afford then by all accounts he wouldn't be using dollars in the first place; if he was one of the dollarised class, ie the rich, then surely a tenner is, well, scroogish?!

    Jun 07th, 2012 - 05:53 pm - Link - Report abuse 0
  • yankeeboy

    CFK is an arrogant as she is stupid as she is corrupt. So she is going to change the U$ she has in Argentina, big deal, what about all the other U$ all over the world?
    I hope she has the helicopter on stand by when it all goes to h*ll. Might be sooner than most people are thinking...

    Jun 07th, 2012 - 06:29 pm - Link - Report abuse 0
  • GreekYoghurt

    @14 What you're doing there Freud called 'Distortion'. It's pathological, and typically used by people like yourself to align their perceptions with their subjective internal realities.

    The fact is a 'typical' Grandfather wanted to give his children some dollars and wasn't allowed, this is while KFCs daughter spends dollars and dollars and dollars in her NYC penthouse, and her son conveniently loses 2.3 Billion USD given to his sturm-abteilung to buy new jets.

    You can try to mold your reality any way you like, it's just us that have to see you doing it and questioning your motivations.

    Jun 07th, 2012 - 06:31 pm - Link - Report abuse 0
  • richardzleeson

    There are several sites that offer printable coupons or Printapons. If you print them through a site like Printapons or coupons, you can receive points for using the coupons you print in addition to getting the coupon savings.

    Jun 08th, 2012 - 10:30 am - Link - Report abuse 0
  • v for victory

    Take Action!!

    Stop British taxpayers’ money supporting World Bank loans to Argentina (outstanding 16.2 BILLION). The United States has already indicated that they will veto any new handouts to Argentina.

    A goverment e-petion has been setup at

    Would recommend everyone to sign it.

    Jun 08th, 2012 - 06:55 pm - Link - Report abuse 0
  • Britishbulldog

    Stop all funding to this corrupt country called Argentina bring down this corrupt country and all who govern Argentina.

    Anyone reading this outside of Argentina sign THE FORM NOW.

    Jun 08th, 2012 - 07:35 pm - Link - Report abuse 0
  • jerry

    16, you are so correct.

    Jun 09th, 2012 - 12:57 am - Link - Report abuse 0
  • Britishbulldog

    Stop all funding to this corrupt country called Argentina bring down this corrupt country and all who govern Argentina.

    Anyone reading this outside of Argentina sign THE FORM NOW.

    Jun 09th, 2012 - 04:54 am - Link - Report abuse 0
  • Pirat-Hunter

    Leading by example is a strong force, if thisreport is true we might see a strong Argentine economy for decades to come.

    Jun 09th, 2012 - 02:52 pm - Link - Report abuse 0
  • Simon68

    22 Pirat-Hunter (#)
    Jun 09th, 2012 - 02:52 pm

    WTF are you smoking?

    Jun 09th, 2012 - 04:16 pm - Link - Report abuse 0
  • Leiard

    Even before she was elected president of Argentina, Cristina Fernandez de Kirchner carried the haze of corruption. In the most famous case, an emissary from Hugo Chavez, the president of Venezuela, was discovered at the Buenos Aires airport carrying a briefcase stuffed with $800,000 in cash, destined, he later told the FBI, to support Kirchner’s presidential bid. Kirchner denied the allegation. Within Argentina, many question the huge fortune Kirchner and her late husband Nestor amassed since taking public office. Her declared personal wealth stands at $13.8 million, up from $500,000 when the couple first entered national politics. Kirchner cites income from real estate and hotels the couple had purchased to explain the 2,600 percent return on the couple’s investment purse. Corruption watchers complain that her government has neutered government oversight, giving auditing posts to cronies compromised by conflicts of interest. The result: corruption cases take an average of 14 years to work through the system, according to the non-profit Center for the Study and Prevention of Economic Crimes, and only 15 in 750 cases have led to convictions.

    Jun 09th, 2012 - 04:39 pm - Link - Report abuse 0

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