MercoPress. South Atlantic News Agency
Sao Paulo benefits from Argentina’s lack of “legal and economic security”
The President of Investe São Paulo -the gateway for companies that intend to settle their operations in the Brazilian state- referred to the ongoing foreign investment boom in the neighbouring country is due in part to the “lack of both legal and economic security that Argentina and its government have.” Read full article
Comments
Disclaimer & comment rulesWe have been saying Argentina will scare inward investment away to other LatAm countries and here is the evidence.
Jul 23rd, 2012 - 08:56 pm - Link - Report abuse 0I hope and trust some comes the way of Uruguay.
Every silver lining (Argentina's legal and economic security) has a silver lining (Brazil's windfall). Hang on; shouldn't that ready every cloud...? Can't see any clouds; just blue sky.
Jul 23rd, 2012 - 09:17 pm - Link - Report abuse 0Chuckle chuckle
Money flows where people think they can make a profit. Profit has been outlawed in Argentina.
Jul 23rd, 2012 - 11:05 pm - Link - Report abuse 0I don't see them getting FDI until CFK and that terrible dynasty is finished ruining that country.
YPF is trying to figure out how to issue U$ bonds, banks told them they would have to keep all their export funds offshore in an escrow account to sell anything and even if they did that the rate would be ABOVE 17%!!
hahahahaha credit card rates but what can you expect. losers.
If Sao Paulo was a country, we would be the 20th largest economy in the world. Our GDP is bigger than Argentina or South Africa, the land is larger than England. Sao Paulo has the second largest stock exchange; we have the largest fleet of helicopters in the world. We have strong finance as well as a strong agricultural industry. We have 33% of the GDP of Brazil and 34% of the industrial GDP of the country”.
Jul 24th, 2012 - 12:12 am - Link - Report abuse 0he did not cite the ability to sao paulo super bill and sell items to other states, I know this because I am Brazilian.
Always capitals attack countries running away from them the way they do it in this case with Argentina and harboring in Sao Paulo and other places.
Jul 24th, 2012 - 02:41 am - Link - Report abuse 0@5
Jul 24th, 2012 - 08:49 am - Link - Report abuse 0It isn't realy harbouring is it. If people are going to put their cash into something then they want checks and balances as protection.
You don't know me but I would like to redevelop my house. Can you lend me £10k please. I'll pay it back if I can/feel like it. Deal?
P.S. The last person I borrowed money off never got paid back. Can I have your money now please?
Way to go, Sao Paulo.
Jul 24th, 2012 - 09:03 am - Link - Report abuse 0l have no sympathy for Argentina, they brought it all on themselves.
What goes round, comes round.
@1 To be honest, Chris, I can't see much going Uruguay's way. Everyone is aware of how much Mujica (and therefore his country) is under CFK's boot. How long do you think it will be before CFK, or a successor, tries to “recover” Uruguay? Remember that Uruguay only exists because Britain stepped in to broker the treaty that established it, when Brazil and argieland had fought themselves to a draw. Isn't “Guzz” violently pro-CFK? How long will it be before some “unrest” is fomented and argie troops have to be drafted in to “restore order”? Once Chavez is in place, mercosur will, effectively, be 3 sharks and a minnow. And I reckon we can all foresee what will happen to the minnow.
Jul 24th, 2012 - 10:10 am - Link - Report abuse 0#3 “Profit has been outlawed in Argentina” No, just the predatory gangster capitalism you revel in. If they want someone to kick around, sure they're making the right decision not to come to Argentina, just hope they get a rude awakening in Brazil too!
Jul 24th, 2012 - 11:42 am - Link - Report abuse 0I see CKF is now sniffing around the BINGO parlors I guess she found a little more money for the pot.
Jul 24th, 2012 - 12:11 pm - Link - Report abuse 0I wondered where the next nationalization would come from but geesh this is sinking pretty low! I wonder how she will legally justify this one? Let's see PROTECT THE PEOPLE..yeah that's probably it.
Gosh if I was an RG I would be packing my bags now, even being a waiter in Miami is better than living through what is coming next.
8 Conqueror
Jul 24th, 2012 - 12:34 pm - Link - Report abuse 0Guzz is virtually unique in Uruguay. I have a lot of contacts and friends here now and NO-ONE thinks well about Argentina.
Uruguay has been here for 200 years and managed to keep independent but I have to admit that Mujica is losing his support rapidly. Again, no-one understands WTF he's doing sucking up to the stupid bitch.
It's a bit difficult to see how unrest would come about over Mujica, the real threat in my opinion is Chavez, but hopefully he'll be dead before the year is out.
Hopefully the minnow will in fact be a Pilot Fish. There is of course a great deal of American investment in Uruguay and the government has a good relationship with the USA. If Chavez does something stupid and tries / invades the country it would give the new president an ideal chance to cut Chavez's balls off, if he has any. Romney is known to be 'champing at the bit' to nail Chavez's arse to the wall.
11 ChrisR (#)
Jul 24th, 2012 - 12:45 pm - Link - Report abuse 0“Again, no-one understands WTF he's doing sucking up to the stupid bitch.”
I would suggest that Pepe has had to choose between Kretina and Dilma, and has decided that:
1) Brasil is bigger and more dangerous.
2) Kretina's day are numbered, therefore she'll probably be gone before she can really hurt Uruguay.
@9 BINGO...really. Why doesn't she just nationalise all Casinos too.
Jul 24th, 2012 - 01:42 pm - Link - Report abuse 0Been given the round around by AFIP at the moment. Family want to send some money over to buy a present for the wife and each time they go to AFIP they are told a different story. Firstly they could buy dollars, they just needed a special password. Then hey went back with the password and were told they could only buy dollars for travel. Then AFIP said that I could take money out of a NON-US$ denominated (peso) account from an ATM in England. “What about the law prohibiting that”, they asked. There is no such law, they said, are you crazy? Next day they went back and said this couldn't be done, of course it can't, AFIP said, there is a law against it....every day a different lie from a state organisation. They trade in lies. This is a Kakistocracy.
I wonder if they will confiscate Aerolinas Argentina jets as they land in USA or EU. Probably.
Jul 24th, 2012 - 01:52 pm - Link - Report abuse 0On second thought, crying for Argentina might be OK.
A lawyer for the country told a Manhattan federal appeals panel yesterday that it could be forced to pay a New York hedge fund and other disgruntled creditors up to $20 billion if a lower court ruling on its debt restructuring isn’t overturned.
And the South America nation of 41 million people doesn’t have that kind of cash, the panel was told.
Read more: http://www.nypost.com/p/news/business/argentina_we_can_pay_elliott_eu359LoQ4nEgtlsJCXPe5N#ixzz21Y1wLcCf
@13 Have you tried living somewhere that has democracy? Just thinking that some Welsh people in Wales seem to have a problem living alongside England. Wonder how they'd enjoy living in argieland?
Jul 24th, 2012 - 02:04 pm - Link - Report abuse 0@15 I'm British, have lived here all my life. My family-in-law are from Argentina so think it would be a little unfair to demand that they leave. They are just looking for someone from a state department to be truthful...it ins't much to ask...
Jul 24th, 2012 - 03:01 pm - Link - Report abuse 0@14
Jul 24th, 2012 - 03:05 pm - Link - Report abuse 0This is the part where I'm supposed to write “hahahaha!” right?
US court rulings in Argentina have about as much significance and value as the lives of people in theaters, malls or universities in the United States... other words, none.
Toby, I would guess if they were insignificant to your country you wouldn't be spending U$10s of MILLIONS trying to fight them...right?
Jul 24th, 2012 - 03:09 pm - Link - Report abuse 0In the end I hope the ruling is not overturned and 1/2 of your reserves are able to be confiscated. I will laugh and laugh.
They are insignificant, if we win nothing happens, if we lose... nothing happens :)
Jul 24th, 2012 - 03:16 pm - Link - Report abuse 0You won't confiscate anything because your court is powerless to enforce the ruling HAHAHAHA.
Couple of days without some mass bloodbath... still scared shitless to go to watch the batman movie or did you muster enough courage to leave your penthouse when no bullets were flying around?
Holdouts seize assets last week...
Jul 24th, 2012 - 03:35 pm - Link - Report abuse 0Although the value of the assets to be seized represents a small fraction of what Argentina owes the hedge funds, it is a victory for the funds because it allows them to take control of Argentine assets after a decade-long effort...Reuters
Doesn't the gov't own Aerolinas Argentina outright? Hmm State assets subject to seizure... guess they'll have to give up landing in USA UK EU or any other civilized country. Once the Court rules watch out.
19 Truth_Telling_Troll
Jul 24th, 2012 - 04:52 pm - Link - Report abuse 0“Couple of days without some mass bloodbath...”
Why don't you tell us a bit about Micaela Blasco, Tobias. Your nieghbours aren't so “trigo limpio”!!!!!!!
Your welcome Brazil what are good friend for? canada, Mexico and USA have the same dynamics. Weapons from us protect the cocain that comes to Canada and we all profit while Mexicans die and no body seem to care for Spanish background Mexicans and natives who get walled in USA to keep them from thenprofits or progress, The Europeans love to see us kill eachother as they did when they came to America, no much has changed.
Jul 24th, 2012 - 05:00 pm - Link - Report abuse 0@21
Jul 24th, 2012 - 05:37 pm - Link - Report abuse 0You are going to compare crimes of passion, which are as old as Homo Sapiens itself I would surmise (imagine caveman A grabbing a cutting flint, saying “Arrgh Warrh, Oorrgh Yyaa!”, and impaling Caveman B because he was messing around with Cavestress C)*, with what happens daily in the USA, just random psychos shooting at people in public places???
*(example does not apply to Americans, where Creationism is the proven science of the land... So imagine if Cain had killed Abel over women... oh wait).
@20
Civilization is in the eye of the beholder, certainly.
@ 13 Welsh Wizard
Jul 26th, 2012 - 07:05 am - Link - Report abuse 0“every day a different lie from a state organisation. They trade in lies. This is a Kakistocracy.”
Why ascribe to ill will that which can easily be explained by incompetence?
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