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Leading Argentine corporation claims the economy is in ‘very fragile situation”

Thursday, November 1st 2012 - 06:47 UTC
Full article 49 comments

One of Argentina’ leading international corporations, Techint, made public a 200 pages report sent to the Buenos Aires stock exchange with a devastating picture of the country’s economy which “continues in a state of fragility”. Read full article

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  • surfer

    'State of fragility', read 'meltdown';

    Another default around the corner too....

    Nov 01st, 2012 - 07:03 am - Link - Report abuse 0
  • LEPRecon

    Off with his head. How dare he insult the 'Dear Leader' by telling the truth!

    Nov 01st, 2012 - 07:10 am - Link - Report abuse 0
  • Britninja

    So will Techint be...

    A: Nationalised.
    B: Invaded by tax inspectors.

    Place your bets!

    Nov 01st, 2012 - 07:28 am - Link - Report abuse 0
  • willi1

    Liars! Destroyer of the country!
    How shall my blood pressure come up with such stories? ck.

    Nov 01st, 2012 - 09:05 am - Link - Report abuse 0
  • yankeeboy

    Has he been reading my posts?
    Think, is he lying too?

    The path is assured:
    Devaluation/Hyperinflation/Depression

    Nov 01st, 2012 - 09:17 am - Link - Report abuse 0
  • Brit Bob

    Well done Cristina. You have been a dream. Don't forget to collect your cheque from M16.

    Nov 01st, 2012 - 10:03 am - Link - Report abuse 0
  • brit abroad

    Bring on the junta

    Nov 01st, 2012 - 10:55 am - Link - Report abuse 0
  • British_Kirchnerist

    No surprise that a big businessman would oppose the left government and try to destabilise it

    #3 I'd vote for B followed by A. Go go Cristina, take this guy down =)

    Nov 01st, 2012 - 11:29 am - Link - Report abuse 0
  • yankeeboy

    BK you would have loved Hitler! Loved Loved Loved Hitler.

    You are nuts and breathtakingly stupid and sickening.

    Nov 01st, 2012 - 11:40 am - Link - Report abuse 0
  • Pirate Love

    “a devastating picture of the country’s economy”

    YOU DONT SAY! chuckle chuckle!

    i predict a another bout of President illness (sympathyius syndromium), get the violins and black dress out!

    and Argentina are trying to woo The Falkland people when theres articles like this??? Oh please!!

    Nov 01st, 2012 - 12:19 pm - Link - Report abuse 0
  • British_Kirchnerist

    #9 Rubbish, Hitler was broiught to power to keep the left out, brought to power by people like you to avoid a leader like Cristina (it could even have been a woman if Rosa Luxembourg had lived!) I was recently watching the classic “The Nazis: A Warning From History” documentary on the BBC and there was a banker reminiscing about how he and his type had all preferred that the unemployed joined the SA than became Communists, and it was described how more established conservatives brought Hitler to power as the Nazi Party was starting to collapse as they were worried they might miss their chance of having a strong right wing leader...

    Nov 01st, 2012 - 12:33 pm - Link - Report abuse 0
  • yankeeboy

    Breathtakingly stupid
    and
    Cringe worthy!!

    Nov 01st, 2012 - 12:38 pm - Link - Report abuse 0
  • ElaineB

    The Kirchner Oligarchy has been called out. Brave man.

    Nov 01st, 2012 - 02:16 pm - Link - Report abuse 0
  • Pirat-Hunter

    Lol why would Argentina want to get financial help? didn't any of this ignorant see how much money was stolen from tax payers do to the lack of accountability of both the lenders and the Argentina politician. The biggest problem in Argentina is busyness men trying play politics and politicians not running Argentina like a busyness. A good 50% tax on all imports from nations helping and giving refuge to vulture funds will fix some of the problems we face today. We Argentine support CFK 100% and we look forward to the vulture tax to recover the stolen tax money.

    Nov 01st, 2012 - 02:16 pm - Link - Report abuse 0
  • yankeeboy

    About 45 percent of the grain and soybean fields in Argentina are excessively wet after getting as much as three times the normal rain the past two months, David Streit, the senior forecaster for Commodity Weather Group LLC in Bethesda, Maryland, said in a telephone interview.

    2 yrs of bad crops and the peso could be 25/1....or maybe they'll just add a zero next year?
    Austral anyone?

    Nov 01st, 2012 - 03:24 pm - Link - Report abuse 0
  • Idlehands

    14 Pirat-Hunter

    A well thought out policy without any potential for harm to Argentina in its backdraft.

    No ipods for Argentina - assuming they stock any anyway??

    Nov 01st, 2012 - 04:06 pm - Link - Report abuse 0
  • Pirat-Hunter

    #16 Humanity made it thus far without i-pads and some nations still going with out it, but for more than 1000 years people being fighting hunger and Sudan still at it, guess what people still can't live with out food, I guess Lalaland is nothing without i-pads.

    Nov 01st, 2012 - 04:22 pm - Link - Report abuse 0
  • Anbar

    “ The biggest problem in Argentina is busyness men trying play politics and politicians not running Argentina like a busyness.”

    isnt Mrs Kirchner a rather significant holder in a lot of companies, with a private fortune in the many millions (of $USD no less!)...?

    As such, re-reading your above comment... :-)

    Nov 01st, 2012 - 04:28 pm - Link - Report abuse 0
  • redpoll

    @11 Why dont you read a bit of history before spouting off. Herr Shickelgruber (aka Hitler) ofThe National SOCIALIST party was elected by the German people albeit on a minority vote. Once his henchmen the SA had served thier purpose all its leaders were assinated (Things to come for La Campora?) and the rank and file assimilated into the SS and you know what that lot did - or are you a holocaust denier among other things?

    Nov 01st, 2012 - 04:30 pm - Link - Report abuse 0
  • Uruguayan_And_Proud

    Dear dear Argentina, your country is crumbling before you eyes and you dont even notice it because you are blind. You stupidity will be your downfall, and my uprising. Bueno aires will flourish under the control of the Oriental Republic of Uruguay. Long live uruguay!

    Nov 01st, 2012 - 04:36 pm - Link - Report abuse 0
  • Pirat-Hunter

    #18 lol with all the Muslim in the middle east being murdered for oil I don't think we can blame CFK if she is not murdering anyone in the process. I think we should first punish and jail the murderers first, don't you?
    #19 we agree the hollycause happened in Europe not Palestine. And Jews should give up WMD or allow for Iran to build a nuclear defence program to protect Iran from the threats of Israel and their WMD.
    #20 if you start the uprising at the US or UK embassy with a Von fire I am sure it will be a successful riot. But if you decided to trash our country and attack CFK I will pay a reward for your lifeless body.

    Nov 01st, 2012 - 05:57 pm - Link - Report abuse 0
  • British_Kirchnerist

    #12 Who me? Will you dispute the facts I offered on the Nazis?

    #13 Not brave, just stupid - he probably thinks his side is going to win!

    Nov 01st, 2012 - 06:01 pm - Link - Report abuse 0
  • yankeeboy

    Google Translate :
    Josh Rosner of Graham Fisher is director, investment analysts in New York. A year ago he was here and predicted to come, in six months, a slowdown in the economy. Now again, to give a talk at a seminar, and says the country is at risk of “an internal default . ” So, he adds, “do not look at what happened in 2001, but what happened in 1989.”

    “The window of opportunity is closing Argentina , in six months will be completely closed-notes-Rosner, if they do not sign, the country will enter a dead end . ” To the economist, the default decisions are more political than economic . He says that if public spending to sustain consumption continues to grow, while worsening the fiscal, and the government is financed more issue (which drives inflation) and public resources as the Central Bank and the ANSeS, the output will be traumatic. “The government still has time to give a signal to sit down and talk with the IMF, the Paris Club, the ICSID ... Discuss signal is enough , ”he adds. That way, it would open the door to external financing to avoid putting pressure situation like today involve the internal funding sources that appeals to the Treasury. Is that funding they see as a trap . “In 2001, the debt was external. But in 1989, there was a predominance of domestic debt and insolvency crisis ended in a devaluation of 34.5%. ”
    http://www.ieco.clarin.com/economia/mirar_0_802719780.html

    Nov 01st, 2012 - 06:04 pm - Link - Report abuse 0
  • LEPRecon

    @21 - PH

    Trying to distract the thread won't work.

    Oh here it is, mention the Muslims, WMD etc... It doesn't work PH.

    Face it Argentina is standing on a cliff looking down into the abyss of financial ruin. Perhaps you should be thankful that you live in Canada.

    BK - to add to what others have said. Hitler was a national socialist, hence the term NAZI (Nationalsozialist) which meant the National Socialist German Workers Party.

    Peronism, which CFK has admitted that she is, is based on the National Socialism model used by the Nazi's, including their own version of the Hitler Youth, La Campora.

    The teaching methods in Argentine schools is also based on the Nazi model, including the matra that a lie told often enough must eventually become the truth.

    You are either very short sighted or stupid if you can't see that.

    I suppose the only good thing about Argentine Nazism, the Peronists, is that they haven't got the military might to do what their inflated ego's want them to.

    Nov 01st, 2012 - 06:10 pm - Link - Report abuse 0
  • the brits are stupid

    Comment removed by the editor.

    Nov 01st, 2012 - 06:18 pm - Link - Report abuse 0
  • Pirat-Hunter

    #24 it doesn't work with you because you are more interested in murdering innocent Muslims women and children for oil then fixing Argentina's issues, but I am from Argentina and I rather waste time trying to help innocent Muslims women and children then poisoning my mind with UK and US propaganda and lies about WMD or CIA terrorists.
    I rather have a CFK who steal money then giving refuge to a child molesters and murderers. Then again I am an Argentine, We know where murderers and child molesters come from, don't we #24?
    Does anyone love menem as much as the UK and USA did ?.. menem was the darling of the free market and also the creator of the 2001 theft from the Argentine people, let never again allow for a Argentina president take money on Argentina's behalf, we demand a national bank working with our currency or pay 50% taxes for using foreign currency in Argentina.
    #24 listen to #25 because that is how all Argentines feel about the english culture, all we need is the weapons and we would be hunting the English as the terrorists hunted Gaddafi.

    Nov 01st, 2012 - 06:40 pm - Link - Report abuse 0
  • mastershakejb

    25
    lol, oh don't worry, EVERYONE with money/investments is leaving your country!

    Nov 01st, 2012 - 06:47 pm - Link - Report abuse 0
  • surfer

    Argentina total financial basket case, sad situation, govt. should be held criminally responsible for this mess.

    Nov 01st, 2012 - 06:54 pm - Link - Report abuse 0
  • KFC de Pollo

    @20 unfortunately Uruguay is in danger of falling with Argentina as it is such a big trading partner.

    Pepe needs to get deals with the EU ASAP so patricia beer can flourish throughout the world!

    Nov 01st, 2012 - 07:00 pm - Link - Report abuse 0
  • Britworker

    Where did all this murdered Muslims thing come from, not sure what it has to do with news that the Argentine economy is up shit creek without the paddle 'or the boat'.

    Nov 01st, 2012 - 07:12 pm - Link - Report abuse 0
  • Pirat-Hunter

    #27 maybe now the regular Argentine will have access to bank loans to buy busyness and homes with pesos. Hopefully those investors you mentioned take their dollar dependency with them, I think the Argentine people still work for pesos.

    Nov 01st, 2012 - 07:13 pm - Link - Report abuse 0
  • mastershakejb

    lol, good luck in the stone ages then

    Nov 01st, 2012 - 08:23 pm - Link - Report abuse 0
  • briton

    Argentina is finnished,
    CFK is rich and powerfull enough to sod off,
    and pirate hunter, that brave proud argie pretender who hides in canada, with a bagfull of exuses why he cant return to argiland,
    throws mud to the wind to change the subject,
    .......

    Nov 01st, 2012 - 08:37 pm - Link - Report abuse 0
  • Idlehands

    Business = economic entity for making profit

    Busyness = the speed at which something is done (sort of - nobody would ever use it)

    Nov 02nd, 2012 - 09:33 am - Link - Report abuse 0
  • bloody rubbish britons

    @20
    Shut up Isolde...no ones needs your comments!

    Nov 02nd, 2012 - 03:53 pm - Link - Report abuse 0
  • perfecta

    @20 & 33
    mind your own country,,,,,you old idiots!

    Nov 02nd, 2012 - 05:29 pm - Link - Report abuse 0
  • Captain Poppy

    #11 You colossal stupidity is only paralelled by you lack of travels to see the world as it is. You should get out more before your head explodes in beleiving everything you are told and watch on TV.
    You should try reading the real rise of nazism

    Nov 02nd, 2012 - 07:24 pm - Link - Report abuse 0
  • toooldtodieyoung

    33 briton

    .....and Guzz!! Don't forget him who is hiding out in Sweden?? Denmark?? as the last surviving member of his family who can not give out his real name lest he be hunted down by the Uryguan secret police and shot for his role in the uprising of the masses......... Yeah, sure!!

    Nov 02nd, 2012 - 08:00 pm - Link - Report abuse 0
  • Captain Poppy

    If people's life's were not involved it would almost be comical in which the manner that kirchner continues to run her own coutry into the ground, With dignity and freedom of course. It is one thing for the people not able to changes things with such deeply imbedded corruption; it is entirely another matter that the politicians cannot see their own country being driven off the cliff at breakneck speed. More so than the people, the blame train can be squarely placed in central circus known as the lower house and the senate. They should pat themselves on the back. They can sit there blaming everything on the worlds woes........but as the world starts passing them by, we will hear .....WTF....from down south amigos.

    Nov 02nd, 2012 - 08:07 pm - Link - Report abuse 0
  • briton

    we see CFK is so desperate she now sends children to blogg with us,
    poor sussie, so desperate.lol.

    Nov 02nd, 2012 - 08:29 pm - Link - Report abuse 0
  • Dam Edge ConTroll.

    Less rage, more peace.

    Nov 02nd, 2012 - 09:47 pm - Link - Report abuse 0
  • Burn1938

    Poor man ! Does he think he lives in the UK where one can criticise the Government and still carry on living a normal life ?

    Nov 02nd, 2012 - 11:22 pm - Link - Report abuse 0
  • Dam Edge ConTroll.

    Building one's house has never been achieved by removing the plinth of another's.

    Nov 03rd, 2012 - 01:20 am - Link - Report abuse 0
  • St.John

    Reading the comments from pea brained Argentinos who live anywhere else but in Argentina explains the country's woes.

    They simply stick their fingers in their ears and shout “LALALA I can't hear you!”

    Anyone else can understand that a product produced at
    30 pesos when 1 US dollar was 3 pesos it costs 10 U$S
    when the real inflation of 25% has increased the cost to
    80 pesos and 1 U$S is 4.50 pesos, the cost is now 18 U$S
    and it can't be sold, simply because it has become more expensive that competing products from other countries.

    - and Peabrained-Hunter, living in Canada has removed you from the fact that most import to Argentina ALREADY IS taxed by 50%.

    Tell me, Peabrained-Hunter, can other countries retaliate and raise the tariff to 50% on Argentine products?

    Nov 03rd, 2012 - 05:33 am - Link - Report abuse 0
  • Zhivago

    PH
    If you borrow money from the mafia you can't cry foul when they come and break your legs, you shouldn't have borrowed money from them in the first place. When you deal with dubious sources you end up responsible for any outcome. Your self-pity is quite sickening but I think most people on this board feel sorry for you because they know you were a victim of sexual abuse......by a Jew...... in Kabul..... or in Canada on a TTC bus,,, or at Taco Bell, its hard to keep up with your self-indulgent crap!!

    Nov 03rd, 2012 - 11:42 am - Link - Report abuse 0
  • Captain Poppy

    Zhivago....I think it was dear old dad.

    Nov 03rd, 2012 - 02:44 pm - Link - Report abuse 0
  • briton

    Probably find that Susie is his mother,
    Or father,
    Or both.

    Nov 03rd, 2012 - 07:21 pm - Link - Report abuse 0
  • Captain Poppy

    they are all fukked in the head

    Nov 03rd, 2012 - 10:58 pm - Link - Report abuse 0
  • Pete Bog

    @14
    “A good 50% tax on all imports from nations helping and giving refuge to vulture funds will fix some of the problems we face today”

    Hopefully some of these nations supply engines, weapons and spare parts for your rusting, ancient armed forces, so why don't you do us all a favour and put a 100% import tax or a 150% import tax on them?

    No, really mess up your country put a 500% tax on imports and see what happens.

    Cause and efffect.

    I like your thinking Pirate, another great way to de-militarise the South Atlantic, like you are doing by surrendering your ships to NML.

    Nov 05th, 2012 - 09:41 am - Link - Report abuse 0

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