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Treasury Secretary Lew praises Argentina for its reintegration to the global economy
United States Treasury Secretary Jacob J. Lew celebrated Argentina's return to international markets and reintegration to the global economy, following the final settlement with holdout creditors, which it described as a major milestone not only for Argentina but for the global financial system. Read full article
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Apr 23rd, 2016 - 11:38 am - Link - Report abuse 0“ I have reiterated our admiration for the speed at which Argentina has been able to thoroughly fool and deceive the international community into believing that the country possesses the fundamental conditions for being able to pay its debt, control its 40 percent annual inflation, turn around its deep recession, achieve competitiveness, modify its hostile institutions, address its massive corruption, and create anything that might be mistaken by the usual novices as so much as a shadow of sustainable and inclusive economic growth.....”
Apr 23rd, 2016 - 02:49 pm - Link - Report abuse 0Too funny.
Apr 23rd, 2016 - 03:06 pm - Link - Report abuse 0When Jack Lew met with Rousseff's ecn minister Levy he was just as optimistic. That he and his tribe would rig this situation and bankrupt Brazil. This is democracy for you. They run wall street and sanders has the cure now. Happy pesach Dilma Vana.
Apr 24th, 2016 - 05:29 pm - Link - Report abuse 0Nobody needs to help Brazil in its bankruptcy or other failures. It is demonstrably capable of screwing everything up all by itself.
Apr 24th, 2016 - 07:34 pm - Link - Report abuse 0Surely this comment and other similar comments are merely “sighs of relief” at the departure - albeit temporary - of peronismo from government in Argentina.
Apr 25th, 2016 - 02:44 pm - Link - Report abuse 0A comment on Brazil being about a short vacation from peronismo?
Apr 25th, 2016 - 03:25 pm - Link - Report abuse 013 years of lies and disastrous management and argentina is booming again thanks to more debt.
Apr 25th, 2016 - 06:02 pm - Link - Report abuse 0@8 “ 13 years of lies and disastrous management ...”
Apr 26th, 2016 - 12:01 am - Link - Report abuse 013 years? I think it's in excess of 200 years.
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“ ...booming again thanks to more debt.....”
- The concept of actually producing goods and services is just so, ya know, 19th century. The future of Argentina is founded in (1) the accumulation of large amounts of expensive debt to eventually be defaulted, and (2) the endless creation and expansion of social programmes. It will be enabled by legions of clueless foreign financial novices schooled in the process of accounting legerdemain and the squeezing of blood from stones.
How tender. After Singer and Griesa, United States Treasury Secretary Jacob J. Lew is congratulating Argentina for its “reintegration to the global economy.”
Apr 26th, 2016 - 06:14 am - Link - Report abuse 0Of course. The U.S. government, which originally was going to advocate in favour of Argentina against Judge Thomas Griesa's biased ruling in support of the vultures, got probably a hint of pressure and quietly dropped its amicus curiae intervention.
#9 Marti
The future of Argentina actually depends on definitely taking the power out of our parasitic national oligarchy, which allied to the international finance wizards is pillaging the country and maxing its credit card before exiting with a bang--always in hopes of coming back.
@10 Reekie, so long as Argentina refers to its lawful creditors as vultures, and plays the populist whilst pounding the tables that it has no intention of honouring its contracts, it reminds the world that it has not the slightest intention of responsible participation in international commerce, and ensures its continued and much-coveted position as a bush-league pariah state.
Apr 26th, 2016 - 10:20 am - Link - Report abuse 0Reeeeeekie you are the queen of denial.
Apr 26th, 2016 - 01:34 pm - Link - Report abuse 0@10 “ ... future of Argentina actually depends on definitely taking the power out of our parasitic national oligarchy,...”
Apr 26th, 2016 - 07:18 pm - Link - Report abuse 0Reekie, don't you remember how the Kirchners robbed the country and who they were and how they got there? “Oligarchy” ? Not at all. They started as tin-pot crooks. CFK's father was a bus-driver. Néstor's father worked in the post office. “Oligarchy”? Not at all. Just small-time crooks made into big-time crooks thanks to ....Peronismo! What do these big-time K-crooks have in common with the other leadership that has consistently buggered the country? They're all Argentines! Inveterate kleptocrats! Argentine culture is demonstrably and wholly incapable of producing and maintaining anything that could be mistaken for competent, honest governance.
You know what you need to do? Pitch every Argentine out of every office and leadership position and hire another country to run Argentina. Maybe Mongolia .
13 Marty
Apr 27th, 2016 - 05:14 am - Link - Report abuse 0The claim “they are thieves” is the easy argument of those who cannot even begin talking about the political and economic direction of the Kirchners.
Reality is, every government will have corrupt people who take advantage of their position to line their pockets, as the Macri government has already shown.
However, even if the Macri government is corrupt, its main effect on the country will be its economic and social policies.
If something can be criticized of the Kirchner government, is the negotiations to restructure the foreign debt. Instead, they should have audited the spurious, illegal origin of that debt--and refuse to pay a single dollar.
@14 Reekie, every argie government since the default in the 1980s has acknowledged the legitimacy of the debt, and the need to restructure and pay off the debt. Even your marxist enano Kicillof acknowledged its legitimacy.
Apr 27th, 2016 - 01:14 pm - Link - Report abuse 0Reeeeeeekie, you seem to be mired in a largely fictional past.
Apr 27th, 2016 - 02:14 pm - Link - Report abuse 0Sure the dates and names are there but their roles and actions can't be reconciled with the values and motivations that you ascribe to them.
These are and were evil people attempting to implement flawed ideologies that are non functional.
The myth of a won decade is a lie.
The realty of communism is reflected in the successes and failures across latam.
China/russia have enthusiastically repudiated communism and embraced capitalism.
The resultant success of china is staggering.
Contrast this with that of chavistan.
I assume that it's painful for you.
I can't envision that it would be easy for you to reconcile your hopes and aspirations for your former supposed country with the reality that is laid bare and now patently obvious to even the most casual observer: Rg is bad.
Just when you thought Argenzuela was turning some sort of corner and making big promises about maybe someday being conditionally invited to possibly join the real world.... Peronismo returns, y con creces! Don't need a Peroncho president -- the legislature will do peronismo for you. And it looks like they are going to pass the Ñoqui Preservation Act. Locally the proposed law is called the Ley de Despidos, intended to make it damned near impossible to fire dead-wood employees for the next 6 months, whether they are actually doing any work or not. And then there is this stupidly expensive double indemnisation. Well, the peronista dominated senate passed it by 48 to 16, so now it goes to the lower house where it is expected to pass. Macrisis has said he would veto the bill but the power of peronismo in the legislature is such that the veto would very likely be overridden (takes 2/3 of legislators present, in both chambers, to override a veto).
Apr 29th, 2016 - 03:11 am - Link - Report abuse 0It doesn't take much imagination or experience to predict the impacts of a can't-fire-anybody law. (OK, so if you can't get fired, and there is no work, or even if there is work, do you really need to, like, work?) And even if Macri had a plan for developing the economy, this law pretty could pretty much gut it.
Peronismo still in charge. Nothing has changed.
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