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Argentina's new central bank president: a blend of Keynes with strong government intervention

Thursday, October 2nd 2014 - 07:31 UTC
Full article 37 comments

Alejandro Vanoli, the designated new President of the Argentine Central Bank following Juan Carlos Fabrega’s resignation, is the current leader of the CNV securities regulator, in charge of that entity since 2009 after serving for three years as its deputy. Read full article

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  • Anglotino

    “a national and popular economist”

    Much prefer a rational and boring economist.

    Oct 02nd, 2014 - 08:23 am - Link - Report abuse 0
  • ElaineB

    His C.V. (posted on another thread) is a joke.

    “has written various articles in scientific magazines”. LOL! It is like a C.V. from someone straight out of university. A real one, I mean.

    Oct 02nd, 2014 - 09:24 am - Link - Report abuse 0
  • chronic

    Toilet paper. That's what to invest in. It'll be flying off the shelves. Here comes the pesos out of the mattresses and jars in the backyard and 20 to 1.

    Oct 02nd, 2014 - 09:50 am - Link - Report abuse 0
  • ChrisR

    Clarin reckon the previous incumbent lost the 'arm wrestling match' with Kickitoff and this idiot was given the chance to fuck the economy up further with his Peronist education.

    BTW, economics is not a science. Any 'Scientific Magazine' that publishes 'economics papers' isn't a science magazine, it's a comic and this guy is a joker.

    Oct 02nd, 2014 - 11:30 am - Link - Report abuse 0
  • yankeeboy

    That guy has a remarkably blank stare.
    Its disturbing

    Oct 02nd, 2014 - 12:38 pm - Link - Report abuse 0
  • paulcedron

    “Argentina's new central bank president: a blend of Keynes with strong government intervention”
    lol
    no.
    vanoli is the blend of moreno + kicillof, who failed in everything they have done.
    the imbecile is not qualified to be in charge of the central bank.
    instead of defending the currency through combating the inflation, all he will do is to attack the symptoms.
    we already know which will be the result.

    Oct 02nd, 2014 - 12:43 pm - Link - Report abuse 0
  • Troy Tempest

    So, a Keynesian Free Market Economy with ”strong government intervention ??

    That sounds like an oxymoron to me.

    Oct 02nd, 2014 - 12:43 pm - Link - Report abuse 0
  • Klingon

    “Fabrega handed in his resignation this afternoon in a way that was impossible to decline,” a source at the central bank told Reuters.

    JAJAJA He told Kristina to “ Go f**k yourself! I quit” !

    He just earned more respect from me.

    Oct 02nd, 2014 - 01:09 pm - Link - Report abuse 0
  • ElaineB

    @8 :). I hope.

    Oct 02nd, 2014 - 01:29 pm - Link - Report abuse 0
  • yankeeboy

    Looks like Mr Market doesn't like the new guy.

    These idiotic Ks are throwing gas on the flames.

    I can't wait to watch this roll out over the next few months.

    Oct 02nd, 2014 - 02:25 pm - Link - Report abuse 0
  • Jack Bauer

    Well, CFK couldn't have chosen someone more committed to her project of screwing the economy....

    Oct 02nd, 2014 - 03:33 pm - Link - Report abuse 0
  • Leiard

    She has got some who will do whatever she says, more control for her mad politics.

    Oct 02nd, 2014 - 03:46 pm - Link - Report abuse 0
  • reality check

    Does he come with the printed warning, ”light the blue (no pun intended) touch paper and stand well back!”

    Oct 02nd, 2014 - 03:47 pm - Link - Report abuse 0
  • Welsh Wizard

    Its official, they've gone full retard

    Oct 02nd, 2014 - 04:35 pm - Link - Report abuse 0
  • yankeeboy

    Arg ADR down 9% SO FAR today.
    These people are stupid enough to think threatening banks and trading houses will somehow “fix” the “blue” market exchange.
    All that's going to do is throw them deeper into a depression.

    Silly Marxists
    ruin one country after another

    Oct 02nd, 2014 - 04:38 pm - Link - Report abuse 0
  • Troy Tempest

    Personally, I feel Kicillof should be commended for training the chimp to sit in a chair.

    :-)

    Oct 02nd, 2014 - 07:57 pm - Link - Report abuse 0
  • Nostrum of NostrolL

    Let' see... would I rather be in a country with 30% inflation....

    ... Or in any of the following list of countries???

    Senegal
    Sierra Leone
    Nigeria
    Libeia
    Guinea
    Democratic Republic of Congo
    United States of America

    WITH EBOLA PANDEMICS ON THE LOOSE.

    Hard, really hard.

    Oct 02nd, 2014 - 08:24 pm - Link - Report abuse 0
  • Troy Tempest

    Ebola won't stop Argentines flocking to the USA if they get a chance to.

    Oct 02nd, 2014 - 08:29 pm - Link - Report abuse 0
  • Nostrum of NostrolL

    Yeah sure. Your levity and trivializing are so absurd in this context.

    Oct 02nd, 2014 - 08:32 pm - Link - Report abuse 0
  • Leiard

    The resignation of the Central Bank’s governor adds to the gloom

    http://www.economist.com/news/americas/21621867-resignation-central-banks-governor-adds-gloom-thumbs-down

    Oct 02nd, 2014 - 08:47 pm - Link - Report abuse 0
  • yankeeboy

    But the country's problems were in the making before Fabrega's tenure, and they are beyond anything one central banker can fix. Low commodities prices have hit Argentina's exports hard, and its defaulted status is keeping investors cautious.

    Barclays estimates that if things go on like this, by this time next year Argentina's dollar reserves could be as low as $10 billion.

    Read more: http://www.businessinsider.com/argentinas-getting-spanked-2014-10#ixzz3F1chIyc6

    Oct 02nd, 2014 - 09:29 pm - Link - Report abuse 0
  • Jack Bauer

    @17 4nTrolley Nostrils
    And when the first case of Ebola appears in Argentina ?? what would you prefer ?

    Oct 02nd, 2014 - 10:06 pm - Link - Report abuse 0
  • yankeeboy

    22. Toby likes to try to start controversy by taking 1 little tiny thing that happens in the USA and blow it all out of proportion. He likes to pretend he knows what he is talking about and that the rest of us are just gullible enough to believe it.

    It helps that he is delusional and has NPD

    One would think he'd be more worried about the increase in Leprosy they're seeing in Argentina due to the collapse of their health system.

    Not having med gloves, clean syringes and gauze is going to start to become a very serious problem for them.

    Little infections we in the civilized world don't even think about could be killers there.

    Just wait this is just the beginning of the collapse.

    Oct 02nd, 2014 - 10:16 pm - Link - Report abuse 0
  • Hincha

    Looking at Vanoli´s credentials; certainly sounds
    like the “wrong man at the right time”.

    Oct 02nd, 2014 - 11:29 pm - Link - Report abuse 0
  • Z-ville

    @22

    They will have to make sure they cook the sewer rats thoroughly before they eat them.
    Fortunately there will be lots of pesos around to burn for cooking heat...

    Oct 03rd, 2014 - 12:27 am - Link - Report abuse 0
  • bushpilot

    @21 YB

    That article you linked claims CFK ciriticized Fabrega directly during her big rant the other day. It claims Fabrega was sitting in the front row when she addressed him directly during her speech.

    What president would do that? Was that speech televised when she did that?

    That behavior is a bit too shocking to believe she actually did what that BI article claims. What leader would belittle a public servant right to their face and right in public?

    Oct 03rd, 2014 - 12:37 am - Link - Report abuse 0
  • yankeeboy

    26. I didn't see it but I am sure it was televised. The general impression from level headed Rgs is that she appeared deranged.

    These next few months will be very interesting to watch.
    Remember me saying cornered animals are dangerous....

    Oct 03rd, 2014 - 12:47 am - Link - Report abuse 0
  • Z-ville

    @27
    ...or delusional.
    Wasn't there a speech earlier this year where she claimed Argentina was a slice of heaven and the Falkland Islanders would be foolish to not want to be part of it?

    Oct 03rd, 2014 - 12:57 am - Link - Report abuse 0
  • MagnusMaster

    @26 All of CFK's speeches are televised. She didn't mention Fabrega by name but she accused the BCRA for leaking out insider info to the banks and when she was saying that the camera was pointing towards Fabrega.

    Oct 03rd, 2014 - 12:58 am - Link - Report abuse 0
  • yankeeboy

    Moody's said when reserves get under U$20B all heck will break lose.
    They claim to have U$27B are past due on U$ 5B my guess is they're already below U$20 and are just working on a float.
    They could do that as long as there were car and soy sales
    now there's not
    They won't have the float much longer

    Oct 03rd, 2014 - 01:05 am - Link - Report abuse 0
  • Z-ville

    So what else so they have that they can pretend to prop up the value of the peso with, other than threats and angry speeches?

    Oct 03rd, 2014 - 01:15 am - Link - Report abuse 0
  • BOTINHO

    The funny blank stare of Sr. Vanoli speaks volumes.

    Doctor.: “ Sr Vanoli, did you take your medications today ? ”
    Vanoli: ( - blank happy stare -no answer )

    Doctor: “ Sr. Vanoli, do you know why you are here ? ”
    Vanoli: ( - blank happy stare - no answer )

    Doctor: “ Sr. Vanoli, can you raise your right arm ? ”
    Vanoli: ( - blank happy stare - no answer )

    Doctor: “ Sr. Vanoli, can you raise your left foot ? ”
    Vanoli: ( -blank happy stare-no answer )

    Doctor: “ Nurse, I'm having problems with this patient. He isn't responding to any stimuli, and just sits there staring, doing nothing . ”

    Vanoli: “ OK- So do I get the job then ? ”

    Oct 03rd, 2014 - 02:03 am - Link - Report abuse 0
  • Troy Tempest

    32

    Good one, BOTHINO!

    :-)

    Oct 03rd, 2014 - 03:27 am - Link - Report abuse 0
  • VancouverCanuck

    And now, for your chuckle of the day (on a completely unrelated matter; stolen from the Penguin News):
    ----------------------------------------------------------------------------------------
    Argentina Objects to Top Gear's FLK Number Plates:

    TOP Gear presenter Jeremy Clarkson was described by the Mirror on Thursday as facing the
    wrath of Argentines, after driving through the country in a Porschewith a number plate that appears
    to reference the Falklands War. However the programme’s bosses denied the number plate
    H982 FKL was used intentionally during filming of a special edition of the show in Argentina.
    The plate went unnoticed on the first part of his trip on the famous Patagonian Highway from the ski
    resort of Bariloche to the southern port of Ushuaia. But, it made local headlines
    midweek as Mr Clarkson nearedthe end of his 1,350 mile trek at the head of a convoy of vehicles
    including a Lotus and Ford Mustang driven by fellow presenters James May and Richard Hammond.
    The Mirror said Argentine newspaper Clarin claimed it was highly sensitive for Argentines
    and Mr Clarkson could have problems. The presenter was also criticised on Twitter with one user
    telling him: “Your irony is not funny in Argentina.” But Andy Wilman, Top Gear’s
    executive producer, said: “Top Gear production purchased three cars for a forthcoming programme;
    to suggest that this car was either chosen for its number plate, or that alternative number
    plates were substituted for the original is completely untrue.”
    -------------------------------------------------------------------------------------------
    Coincidence? I think not!

    Oct 03rd, 2014 - 04:44 am - Link - Report abuse 0
  • Jay Bee

    17

    So why don't you move to a country with 30% inflation? Argentina's is running way more than 30%.

    Oct 04th, 2014 - 12:19 am - Link - Report abuse 0
  • Hincha

    To: 17
    How come you did't include Venezuela in your list ?
    The courtesy of a reply is respectful requested.

    Oct 10th, 2014 - 01:21 am - Link - Report abuse 0
  • Troy Tempest

    When CFK's bunch needs a scapegoat on their Day of Reckoning, this guy's gonna get it, right between the eyes.

    And he doesn't even see it coming.

    Oct 10th, 2014 - 03:44 am - Link - Report abuse 0

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