MercoPress. South Atlantic News Agency
“Citibank has no gun to its head, but the Argentine law”, said Kicillof
Argentina's Economy Minister Axel Kicillof responded to Citibank’s lawyer Karen Wagner remarks that the bank had “a gun pointed to its head” which would “probably go off” if the US Judiciary did not allow payment of funds blocked by US Judge Thomas Griesa’s ruling. Read full article
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Disclaimer & comment rulesWhen they start telling them to “honour their contract,” it's time for Citibank to cut their losses and get the fuck out of dodge!
Sep 23rd, 2014 - 06:30 am - Link - Report abuse 0Honour your contract. Man, that's priceless!!!!!!
“ honour their contracy”, remind me again , how many contracts have Argiland renegaded on? How many judgements have been made against them?
Sep 23rd, 2014 - 06:59 am - Link - Report abuse 0Does anyone else have the urge to slap Kicillof's smug face? Just because he is doing CFK does not mean he knows anything about running an economy. Actually, that is probably punishment enough; no slap required.
Sep 23rd, 2014 - 09:26 am - Link - Report abuse 0I cannot understand the apathy amongst the Argentine people. Maybe they are weak from hunger. Or still in bed. Or just used to cruising through life. Or studying.
Argentine law? Isn't that what they think up on the Monday and get rubber stamped by Friday!
Sep 23rd, 2014 - 09:42 am - Link - Report abuse 0Can anyone help? I need to find a way of sending money into Argentina (specifically Neuquen) without having to pay the official rate. The family are in need of money. After having a frank conversation with them last night, things are much worse than I realised as they are just slipping from being able to pay their way to not having enough cash to buy food, petrol etc. Does anyone know how I can do this?
Sep 23rd, 2014 - 09:55 am - Link - Report abuse 0What can they really do Elaine? That is the one's who are disgusted by this? The vast majority are poor and love her because they get handouts and not have to work. Even if and when they get her out, Peronista's still remain. It's like changing the mentality in the M.E. Sure, there are moderates, but nothing will change.
Sep 23rd, 2014 - 10:00 am - Link - Report abuse 0Protests are the best they can do.....the place is a lost cause. My father in law said he wised the Brits ruled or the US invaded them.....it's lost.
This has just become to much of a joke to honestly comment on.
Sep 23rd, 2014 - 11:19 am - Link - Report abuse 0@6 I know but they have all that energy to jump around at footie matches and skip work to walk up and down streets banging drums.
Sep 23rd, 2014 - 12:16 pm - Link - Report abuse 0WW you really need to know a local banker. Other than that I am not sure you can skirt their draconian rules.
Sep 23rd, 2014 - 12:16 pm - Link - Report abuse 05 Welsh Wizard (#)
Sep 23rd, 2014 - 12:43 pm - Link - Report abuse 0Sep 23rd, 2014 - 09:55 am
Ask your family to find a trustworthy business person with a foreign bank account into which you can deposit funds and the business person can hand over cash. That is the only possible way of helping them.
@10 Simon! Long time no speak! Hope you're well. Thanks for the pointers guys. I've found something called mobile exchange where you deposit the cash in a german account and they then deliver the black market equivalent in pesos...but only in BA it seems. I'll try and find out if anyone has a foreign account and go from there.
Sep 23rd, 2014 - 01:12 pm - Link - Report abuse 0The situation is getting really difficult. the bread winner of the family is in education and hasn't had a meaningful pay rise in a few years. She is earning the same amount now (in peso terms) as when she first qualified over 26 years ago. We are having to sub then constantly otherwise she will have to sell everything she has worked for. It really is brutal. What is your take on the whole thing?
3
Sep 23rd, 2014 - 01:30 pm - Link - Report abuse 0“I cannot understand the apathy amongst the Argentine people. Maybe they are weak from hunger. Or still in bed. Or just used to cruising through life. Or studying.”
what apathy?
next time try not to opine about things you don´t know.
12. The apathy that all of the people from civilized nations are talking about is that in a civilized country we'd have taken steps to oust or reform a gov't that is making us poorer and dumber year after year.
Sep 23rd, 2014 - 01:42 pm - Link - Report abuse 0You Rgs don't seem to mind.
Not one little bit.
13
Sep 23rd, 2014 - 01:48 pm - Link - Report abuse 0again, what do you know about it?
do you live here?
no?
then shut it
I did live there and I can't imagine much has changed since my last visit. Rgs complain to each other over coffee or mate and take a long drag of their ciggy but do nothing more.
Sep 23rd, 2014 - 02:09 pm - Link - Report abuse 0They are too scared to protest knowing the gov't will send out their goons to start trouble.
So every day, year in and year out your life gets just a little worse. The people accept it because it is slow but insidious.
It should scare you as much as it concerns the onlookers.
If their congress was separated from the executive in Argentina, they could place enough clamps on the president as to minimize the damage. She is just beyond destroying that country. Move over Venezuela...........make room for the worst of the worst....says Argentina.
Sep 23rd, 2014 - 02:35 pm - Link - Report abuse 0yb I think you gave pc a wedgy
“The Citibank has no gun to its head, but the Argentine law,” Kicillof stated.”
Sep 23rd, 2014 - 03:26 pm - Link - Report abuse 0Like the law that says that Falkland oil men will be arrested and deported by Interpol to Argentina?
Still-waiting-for-something-to-happen.....zzzzzzzzzzzzzzzz.........
@12 Listen, Snarky-pants, I do know about it, as you well know but don't like to accept. I lived there for months at a time, for years and still visit. I have a network of friends there still that I am in regular contact with, more so lately.
Sep 23rd, 2014 - 03:33 pm - Link - Report abuse 0You know, the saddest part of this is that a large number of Argentines are as resigned to failure as TTT demonstrates. The general opinion is that all politicians are corrupt so getting rid of one solves nothing. But they could try making them accountable. The problem is they have forgotten what hope is.
#18Elaine
Sep 23rd, 2014 - 05:10 pm - Link - Report abuse 0I tend to agree with you. Chile is starting to feel the economic slowdown caused from new tax reform and a slowdown in China. Brazil too will probably go through a mild recession, but Argentina will continue to see a number of manufacturing jobs erode away during a drop in commodities prices. Vaca Muerte still has a way to go before performing. It will be very tough on those at the poverty level there. Truly sad!
@19 Yes, I am hearing about the slowing of pace in Chile. I shall be there in a few weeks time and will get a better picture. I know of a number of business ventures started in a fit of optimism that are just not performing. Everyone seems to be blaming the combination of Bachelet, problem neighbours and, as you have said, copper prices/China.
Sep 23rd, 2014 - 05:46 pm - Link - Report abuse 0Interestingly, job hopping (something I mentioned before as a problem) seems to have stopped as people start to realise the benefits of hanging on to a job. In the long-term it might benefit the younger generation of workers to appreciate stability in the work place.
I still have complete optimism for the future of Chile. It is a country of stoic hard workers with great opportunities for growth and diversity. I really find it hard to be optimistic about the future of Argentina. It will endure but it won't be pretty.
@13 We DID oust several governments, but that has only made things even worse.
Sep 23rd, 2014 - 06:02 pm - Link - Report abuse 010 Simon68
Sep 23rd, 2014 - 07:14 pm - Link - Report abuse 0Simon!! I am so glad to hear from you again. Welcome back to the forum. I hope you are well.
I, for one am looking forward to your next posting on here.
Take care, be well.
Welcome back Simon. Hope you are well.
Sep 23rd, 2014 - 07:57 pm - Link - Report abuse 0@12
Sep 23rd, 2014 - 10:02 pm - Link - Report abuse 0These people are useless for an honest discussion. They are drones. And worst of all, they are duplicitous drones: one standard for Argentina, another standards for the rest of the world and themselves.
They covertly try to foment trashing the democratic institutions of Argentina and champion overthrowing a government before their term is up.
I have always stated CFK will finish her term in October 2015, I've said this since 2011. And I was right. Because that is what the law states.
The law also states she may not run for re-election and have never supported any inchoate attempts to make it feasible.
The institutions are more important than the economy right now.
18
Sep 23rd, 2014 - 11:47 pm - Link - Report abuse 0lucky you that posting nonsense is not taxed.
you, like the rest of the islanders, tend to generalize everything about argentina.
you all confuse country with government, people with politicians and opposition with ruling party.
what can you expect from a bunch of ignorant hillbillies anyway?.
And up the ground came a bubbling crude, gold that is, black gold.
Sep 24th, 2014 - 08:50 am - Link - Report abuse 0Well the next thing you know the folks are millionaires...................
Those ignorant hillbillies, enjoy a better life than unwashed hungry masses and it's only going to get better and going to be without you bunch of would be latter day conquistadors.
Yeaahaaa!!!!
Wow. @25 You think I live on the Falkland Island? I would be proud to call it my home but it isn't.
Sep 24th, 2014 - 09:43 am - Link - Report abuse 0@24
Sep 24th, 2014 - 10:19 am - Link - Report abuse 0“ The institutions are more important than the economy right now ” I would suggest you put that statement to the 33% in poverty and see how they feel. Doesn't mean a jot to us but unless you get the economy growing you are going to get civil unrest in the very near future.
The part I love the most about this article is “The all powerful Argentine minister said ”
Sep 24th, 2014 - 11:05 am - Link - Report abuse 0@29 Well he does boast that he can hypnotise CFK so I guess that makes him more powerful than her.
Sep 24th, 2014 - 12:32 pm - Link - Report abuse 0And it would explain a lot.
11 Welsh Wizard (#)
Sep 24th, 2014 - 01:30 pm - Link - Report abuse 0Sep 23rd, 2014 - 01:12 pm
My take on the situation here in Neuquén is that the economy has reached a threshold where with sensible and creative tweaks it could be saved in spite of default, but with the totally incompetent (so called) economic team we are stuck with, the next step is inevitably hyper inflation probably on a par with the Rodrigazo of 1975.
Looking at the security, or rather insecurity, question, it is constantly getting worse even in our little corner of the world. Just as an example here in our little town we had one murder between 1941 and 1983, and so far this year we've had 4!!!!!!!
I do hope your “familia neuquina” is well, and can sympathise with a person whose real income has dropped so far, mine was rather good until a couple of years ago, now it only just covering our needs. Still life goes on and this is certainly not the first (or probably the last) crisis we've been through, although I predict that it will probably be the worst thanks to CFK and her merry men!!!!!
“Citibank has no gun to its head, but the Argentine law”, said Kicillof....
Sep 25th, 2014 - 08:25 pm - Link - Report abuse 0“The gun” and ”Argentine law” are the same thing so they are damned if they do and damned if they don't.
“The Citibank has no gun to its head, but the Argentine law,” dishonest Kicillof stated.
Sep 26th, 2014 - 01:41 am - Link - Report abuse 0Argentine law?
Republic of Argentina v NML Capital Ltd [2010] EWCA Civ 41 (04 February 2010)
Appendix 3
The terms of the bonds
“…… The republic has in the fiscal agency agreement irrevocably submitted to the jurisdiction of any New York state or federal court sitting in the Borough of
Manhattan … The republic has in the fiscal agency agreement waived any objection to related proceedings in such courts ...”
http://www.bailii.org/ew/cases/EWCA/Civ/2010/41.html
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