If Scioli is Argentina' next president he should have a strong support in Congress

Wednesday, October 14th 2015 - 07:10 UTC

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Next October 25 Argentines will be voting for a new president but also to renew half of all seats (257) in the Lower House and one third of seats in the Senate. This means that more than fifty percent of the 130 seats available currently belonging to the ruling Victory Front (FpV) of Cristina Fernandez as the “first minority” within the legislature, will be disputed. Read full article

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golfcronie
May your God help you Argentinians, you will need faith.
Oct 14th, 2015 - 10:37 am - Link - Report abuse 0
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The Major
God another Peronist to further mess up Argentina.
Oct 14th, 2015 - 01:43 pm - Link - Report abuse 0
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Captain Poppy
Whoever the next President is, they have a shitpot to deal with:

The deficit has increased 30% a year since the last surplus in 2008. And inflation; it hovers anywhere from 25% to 40% a year since.....the 90s. Couple that with over valued currency and this shitpot starts to smell across the continent. Of course over valued currency and inflation is rooted in the restriction on imports. Fine when they exports but the surplus consistently decreased from a high of 12 billion in 2001 to less than 1 billion this past year. All these factors combine for the perfect storm in the reserves. The only reason it's as high as 28 billion is the 11 billion they borrowed in swaps with China. Still needs to be paid back. Lets look at the reserves:

Over 7 billion in unpaid imports
11 billion to China
7.5 billion in private deposits
1.6 billion due to France

Mmmmmm 7 + 11+7.5 +1.6+27.1 billion in earmarked reserves. Does anyone recall what the Kirchner regime claimed to have? Deduct that from it. Last week Argentina made a 5.9 billion bond payment and claimed to have had 33 billion in reserves. 33 -5.9 leaves 27.1. Oops.......I see a problem. The new issues are going nowhere and they have no money.

yeah.........Scioli takes over and it is going to be a real wakeup call for the people. A day late and a dollar short.

Macri gets in and it will be a .....see we told you not to vote for him from the Kirchner's. Unless he can work something with the assholes singer et al. Funny thing, the Kirchner's have the camp sabotaging the electrical grid in the working class areas in a feeble attempt to get them to turn on Macri.

Either way, Argentina is now actually at a point of no money. China may roll the swaps enabling a small breath of life. But in reality that is merely life support to the brain dead. With El Nino gearing up for a 60 year peak, they won't have to use the camp to sabotage anything, nature will do it.

Argentina, wake up and change your system.
Oct 16th, 2015 - 01:56 am - Link - Report abuse 0
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