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Dollar in Argentina climbs to 13 Pesos and the stock market drops 1%

Tuesday, July 29th 2014 - 05:13 UTC
Full article 6 comments

The “blue” dollar on Monday spiked 40 cents, to 13 Argentine pesos, amid growing uncertainty over the negotiations between Argentina and its holdout creditors in New York, as the July 30 deadline set by US Judge Thomas Griesa approaches. Read full article

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  • lsolde

    Down & down she goes,
    Where she stops,
    Nobody knows.
    Almost feel sorry for them.
    C'est la vie.

    Jul 29th, 2014 - 08:51 am - Link - Report abuse 0
  • ChrisR

    So, it starts, the final slide into monetary meltdown.

    GOOD.

    Perhaps, but only perhaps, the electorate will wake up to the criminality of their 'government' and will elect somebody who will be honest and not rob them blind.

    BUT, it's The Dark Country! Ha, ha, ha.

    I wonder if 'No Money Pepe' ever made sure we got paid for all the electricity we sent them when their bicycle wheel dynamo failed during the last rainy weather? Stupid question.

    Given that the crooks are not paying for the imports from us it would be no different if they croaked big time.

    Jul 29th, 2014 - 10:51 am - Link - Report abuse 0
  • redp0ll

    Chris, I just hope that bumbling Pepe will not help them out by committing the small nest egg we have in the BCU to Argentina in exchange for their worthless bonds, but it wouldn't put it past him

    Jul 29th, 2014 - 07:54 pm - Link - Report abuse 0
  • ChrisR

    @ 3 redp0ll

    I have been expecting it, but don't forget my tag for him: that came about when he couldn't pay the Judges (so everyone below them were stalled as well) AND he reneged on the teacher's pay rise which was already 18 months overdue.

    I don't see what has happened to improve matters in reality.

    Did you read the Travi (CERES) piece in El Pais and what Pepe called him? Basically the debt at 3% of GDP is completely unsustainable for the foreseeable future (decades or more) unless real action is taken as soon as Vasquez gets in and even then it will be a close call.

    Given the technical breakdown he presented I doubt the semi-literate and innumerate Pepe just didn’t understand it.

    I had real hopes for him when he became President but that soon changed I can tell you.

    Jul 29th, 2014 - 10:01 pm - Link - Report abuse 0
  • redp0ll

    @4 No intelligent person believes a Word of what Pepe says.
    And Im not so sure Vasquez will get in.
    Way down in todays polls.

    Jul 29th, 2014 - 10:23 pm - Link - Report abuse 0
  • ChrisR

    @ 5 redp0l

    That's good news as long as it's anybody but The Broad Fraud. :o)

    Jul 30th, 2014 - 01:28 pm - Link - Report abuse 0

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