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Argentina's central bank and foreign private banks clash over removal of HSBC directors

Thursday, September 3rd 2015 - 07:44 UTC
Full article 16 comments

Argentina's Central Bank and the Argentine Banking Association (ABA) exchanged fierce criticism on Wednesday after the decision of the monetary authority to remove the licenses of two senior HSBC directors, who will be forced to leave their posts. Read full article

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  • ChrisR

    No good talking about not having the right to defend themselves in an argie court because that would be a pointless exercise.

    Sep 03rd, 2015 - 10:59 am - Link - Report abuse 0
  • golfcronie

    If they went to court it would take years. You only have to look at the Nisman case, how long has it taken already without a decision whether he was murdered or he committed suicide.

    Sep 03rd, 2015 - 03:53 pm - Link - Report abuse 0
  • ilsen

    Doesn't that wise and experienced 24 year old daughter of somebody or another have counsel on this?
    Oh you know, what's-her-name?
    Alice? In Wondering (how I got the job) Land?

    Sep 04th, 2015 - 02:47 am - Link - Report abuse 0
  • Enrique Massot

    No surprise that spur of solidarity among cousin institutions.
    Interesting that those who joyfully speak about “corrupt” Kirchner government members suddenly become very cautious and worry about the right to legal defense of a large financial institution.
    Anyway. In a related story, the Buenos Aires Herald shows a jump in car production numbers.
    “A report from industry insiders revealed a 7.1 percent jump in car production over August compared to the same month last year, contrasting with a heavy fall in the amount of vehicles sold for exportation.”
    Which shows the health of the Argentine domestic market at a time the world's economic activity continues to slow down.
    Too bad for the usual prophets of doom and gloom.
    http://www.buenosairesherald.com/article/197910/car-production-up-71-in-august

    Sep 04th, 2015 - 03:05 am - Link - Report abuse 0
  • Iron Man

    @4 it's what is known as a 'dead cat bounce.'

    Sep 04th, 2015 - 06:00 am - Link - Report abuse 0
  • ilsen

    @4 EM
    not really a related story at all.
    More of a desperate grasping of straws....

    Sep 04th, 2015 - 06:17 am - Link - Report abuse 0
  • Klingon

    Central bank just fired 2 of it's top guys who have been there many years because they did not agree with it.
    Hopefully they spill the beans about how much the central bank really has in it's reserves.

    Sep 04th, 2015 - 11:43 am - Link - Report abuse 0
  • ezekielman

    The rule of law counts for nothing in the world of illusion and delusion that swirls around Argentina, undermining its economy, industry, trade and banking. Just look at the latest figures to show the mess Corruptina Kirchner has created. Chile is ranked 41 on the World Bank's 2015 Ease of Doing business Index, while Argentina came in at 124, alongside countries like Mozambique and Guyana. Well done, Corruptina, but of course you'll carry on stealing millions from the people. How much are you worth, Corruptina? It's time we were told.

    Sep 04th, 2015 - 04:52 pm - Link - Report abuse 0
  • ChrisR

    @ 4 Riki Mashed Potato Head

    You do realise that the BsAs Herald is now owned by a big mate of TMBOA don't you.

    It used to be fairly balanced but is now just a mouthpiece for TMBOA herself and an ardent fan of the lies spread by INDEC.

    Try reading TDC own auto industry news and you will find there is no real increase in production or sales from last year which was a disastrous one for all manufacturers in Lalaland.

    Sep 04th, 2015 - 06:10 pm - Link - Report abuse 0
  • Z-ville

    @4
    That is a very interesting article indeed. Here is a direct quote from it:

    “Between January and August the automotive sector produced 364,574 units, 9.7 percent down compared to the 403,534 that were fabricated in the same period in 2014,” the report signalled. ”

    So if you read the article carefully, you will se that the car production did not increase - it decreased. But the export of cars decreased more than the domestic sales. That is all that they reported.

    As someone already noted, BA Herald is a voice box for the regime. they are experts at manipulating statistics...

    Sep 05th, 2015 - 12:36 am - Link - Report abuse 0
  • Enrique Massot

    #9 Chris and #10 Z-ville
    Come on guys, be serious. If you want to bash Argentina's current government or criticize a posting, by all means do it!
    But try at least to base your opinion on real facts, so that we may have a more interesting discussion. (And you will feel less the need to use insults, ridiculous nicknames and potty humour).
    Here's information from ADEFA, Asociación de Fábricas de Automotores de Argentina:
    “The country's production in August was 48,048 units, or 7.1 per cent more than the same month last year and 8.4 per cent over the July production.
    ”August exports were 21,355 units, 22.2 per cent less than August 2014.
    “Wholesale numbers in August were 59,592 units, 16,6 per cent over August 2014 and 6 per cent more than July.”
    Anything else?
    http://www.adefa.org.ar/es/prensa-leer?id=45&idt=2

    Sep 05th, 2015 - 05:25 am - Link - Report abuse 0
  • Pete Bog

    @4 Enrique

    If your banks have a problem, Rossi's 26 year old daughter will sort them out, right?

    Sep 05th, 2015 - 03:15 pm - Link - Report abuse 0
  • ChrisR

    @ 12 Pete Bog

    Little miss Rossi-Hood will simply rewrite the figures just like INDEC do.

    Admit it Kiki Mashed Potato head you never read the report did you, just the headlines?

    PRDUCTION FIGURES

    (2014) 403.534 (2015) 364.574
    DOWN (-) 38.960 DOWN (-) 9,7% YTD for comparison purposes.

    Selling cars out of massive unsold stocks to hand from the year before is NOT a reason to crow about.

    If you understood industrial economics you would see that for yourself. My comment “there is no real increase in production or sales from last year” is absolutely correct.

    I read TDC auto industry summary regularly, you can get it in English by a click of the mouse. It has been dismal reading for the last 14 months or so.

    Try again, your bullshit doesn't work.

    Sep 05th, 2015 - 07:02 pm - Link - Report abuse 0
  • Enrique Massot

    #13 ChrisR
    Ah Chris, Chris.
    First, I give some auto industry numbers published by the Bs. As. Herald. You refute the numbers and accuse the newspaper of being a mouthpiece for the government. You lecture me about checking direct information from the industry.
    When I provided numbers given by ADEFA, Asociación de Fábricas de Automotores de Argentina you jump to another subject to still try to prove your point.
    Look. You and I are not going to sensibly impact the political process in Argentina. All we can do is to get a picture as accurate as possible of what's going on.
    Burying your head in the sand on the positive changes that Kirchnerism has brought to the country may be comforting, but risky.
    You may be left in the dust, trying to figure out what the heck happened.

    Sep 06th, 2015 - 05:07 pm - Link - Report abuse 0
  • ChrisR

    @ 14 Kiki MPH

    Those last two sentences are priceless.

    The best joke we have seen from you so far!

    Sep 06th, 2015 - 06:22 pm - Link - Report abuse 0
  • Enrique Massot

    #15 Chris R
    Great!
    Let's wait till October so we can laugh together.

    Sep 07th, 2015 - 06:16 pm - Link - Report abuse 0

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