MercoPress. South Atlantic News Agency
The 'morality' of the Argentina/Paris Club deal is that it's 'a shared effort'
Argentina's Economy minister Axel Kicillof gave details on Friday of the payment agreement reached with the Paris Club involving 9.7bn dollars of 2001 defaulted debt, which will open the doors to export credit agencies from the group's members and equally important signals a new attitude from the Cristina Fernandez administration. Read full article
Comments
Disclaimer & comment rulesAmazing that Argentina has slipped so far that it is hardly a developing economy anymore but a frontier economy.
May 31st, 2014 - 10:07 am - Link - Report abuse 0But it is supposedly the IMF's fault.
Why hasn't this happened to other countries? Why can other countries implement “neoliberal” policies and prosper? But when Argentina fails it is because of someone else!
Perhaps Argentina should be looking closer to home for the reason it keeps have such frequent financial and economic crises.
When you have paranoid delusions like so many in The Dark Country, it's easy to see where the blame lies!
May 31st, 2014 - 11:09 am - Link - Report abuse 0Anywhere and anybody but you.
And their first payment will be with a 600 million euro loan from France. Wow. That's economics for you Argentine style. Imagine if I borrowed money from the bank to pay my credit card bill. I still owe the money....no?
May 31st, 2014 - 11:22 am - Link - Report abuse 0Che Medozito Canuk... I was just pondering that the other day after they made the announcement... Holy fook Batman... Imagine that... Borrow to pay back ... And this would only be the first in what I am sure to be many repetitions of the same ploy... In the midst of it all we'll just keep a little for ourselves because we are so worthy having duped these people into thinking we are so sincere... The Argentine mentality boggles...!
May 31st, 2014 - 11:53 am - Link - Report abuse 0Yep, I can see the “morality” of this “accord”. The Paris Club grew up in 1956 out of the crisis talks between argieland and its various creditors. That was argieland's SECOND default of the 20th century. Being a very “moral” place, it then went on to default in 1982 and 1989. That's FOUR defaults in ONE century. In the 21st century, it went on to default again in 2001. However, I would suggest that it then went on to default in 2005 and 2010 since its “debt restructuring” was imposed under argie duress. SEVEN defaults in less than 60 years. And what now? Argieland is expected to start paying in a month's time. When did the Kirchners get into power? 2003. And the pair of them have faffed around, denying reality, for 11 years. Creaming off millions in the process. What will argieland default on next?
May 31st, 2014 - 02:02 pm - Link - Report abuse 0So the Paris Club debt was the only thing stopping people investing in Argentina !!!!!!!!!
May 31st, 2014 - 07:02 pm - Link - Report abuse 0If they cant pay
May 31st, 2014 - 07:56 pm - Link - Report abuse 0they should not be allowed to borrow,
its that simple..
Fee payment agreed without the IMF ? oh shit! Corruption versus greed ! Which will prevail?
May 31st, 2014 - 08:11 pm - Link - Report abuse 0The 'morality' of the Argentina/Paris Club deal is that it's 'a shared effort'
May 31st, 2014 - 08:44 pm - Link - Report abuse 0Great, so when Germany and Russia carved up Poland between them, that was ok because it was 'a shared effort'??
the argentine government needs a check up from the neck up...............
@1
Jun 01st, 2014 - 01:19 pm - Link - Report abuse 0Amazing? A country with no resources and that is on the downside of its life cycle naturally will slip. It has happened and will happen to all nations including yours. NOT ONE NATION IN HISTORY HAS LASTED FOREVER.
Capitalism failed in Argentina because it is a system that creates severe social injustices and Argentines just don't like that. That is not to say communism is the answer, since it does not work either.
MERCANTILISM is the answer, but the world today is dominated by huge corporations that do not allow it. Which is why everywhere on Earth now the middle class is shrinking, and there are fewer and fewer PYMES, only more and more consolidation into “too big to fail” entities (and I thought that was not going to be allowed anymore... check the stats, banks and other corps are BIGGER than ever and there is less competition than ever).
Capitalism is and will always be a failure because it seeks ultimate profit until it squeezes the system that makes the profit to destruction.
Capitalism is like a type O or B star. Yes it might shine brighter than all others in the galaxy for a brief time, but eventually it needs to burn more and more to shine so brightly, and it consumes itself in a supernova and black hole.
Communism is like brown dwarves, trying so hard to share too little hydrogen evenly around the celestial body, so that in the end nothing shines, and the star fails.
Mercantilism is your red dwarf: not flashy, not showy, but it shines steady and lifts all boats, and will do so for TRILLIONS of years.
I'm good with analogies...
Er... no you're not - ask Rimmer
Jun 01st, 2014 - 01:53 pm - Link - Report abuse 0@ 10 TTTwit
Jun 01st, 2014 - 04:28 pm - Link - Report abuse 0WTF does “and lifts all boats mean”?
Are you nuts?
Do you understand why a Red Dwarf will last trillions of years? It basically burns the same material as our sun (a Yellow Dwarf) but does not trap helium (the product of combustion) at the core thus allowing the burning of hydrogen much longer.
BOATS HAVE NOTHING TO DO WITH IT FFS!
Stick to your usual crap, you have a chance at sounding “normal”, just a chance mind you.
10 tRoll_with_the_Punches
Jun 01st, 2014 - 04:48 pm - Link - Report abuse 0“Capitalism failed in Argentina because it is a system that creates severe social injustices and Argentines just don't like that”
That's right!!! They just prefer to elect a president who robs the country blind and puts the economy down the toilet 'cos that won't:-
“create severe social injustices and Argentines just don't like that”
now will it?
Nice new tag you have there tobi, pity you follow it up with the same old s**t. then again, the more things change, the more they stay the same.
10. Your education is an embarrassment and I think its funny that you put it on display everyday for the world to see.
Jun 01st, 2014 - 04:53 pm - Link - Report abuse 0Marxists, constitutionally unable to distinguish between free enterprise and special privilege, hail mercantilism as a “progressive” step in the historical development of capitalism; socialists and interventionists salute mercantilism as anticipating modern state-building and central planning.
http://www.fee.org/the_freeman/detail/mercantilism-a-lesson-for-our-times
You seem to be stuck in ththe 1800s, the rest of the world has learned and moved onwards and upwards.
BTW The UK is the best example of a country that has continually and consistently gotten richer and more powerful with every successive century without fail for 1000+yrs.
You are such a foolish uneducated 3rd world slumdweller that thinks your smart but you are really stupid. This is going to drain the happiness from your lifetime if you don't change quickly.
Britishism or Americanism,
Jun 01st, 2014 - 08:16 pm - Link - Report abuse 0but definitely not
Argentinism or CFKism. .lol
@10 you talk rubbish, its not even plausible rubbish. Just rubbish!
Jun 01st, 2014 - 11:13 pm - Link - Report abuse 0Part of the K talking points, that I told everyone were lies, said that the USA would stop denying WB and IDB loans now that there's a Paris Club “agreement” er no wait “understanding” well well well
Jun 03rd, 2014 - 11:46 am - Link - Report abuse 0The USA denied WB and IDB loan disbursements and said our position has not changed.
Bahahahahaha
Told ya.
@10 Have you noticed how you can best be described as a “twat-twist”? Back in 1833, a single Royal Navy vessel was enough to scare the UPSA shitless. Times have changed. Now it takes 2 Royal Navy vessels and a fleet auxiliary to scare argieland shitless. No interest in your economic “models”. But be very afraid of what WE can do. Gabble all you like. Why isn't argieland properly called “faggotland”?
Jun 03rd, 2014 - 03:25 pm - Link - Report abuse 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!