Macri vows reforms to lower taxes and achieve fiscal balance

Tuesday, October 31st 2017 - 07:43 UTC

Full article 7 comments

Argentina's President Mauricio Macri vowed to press ahead with reforms to the country's tax, labor and retirement systems in a speech on Monday, a week after his “Let's Change” coalition swept to victory at the polls in midterm elections. Read full article

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British_Kirchnerist
“We need lower taxes, more public works, and all this we need to achieve with fiscal balance,”

You can't possibly do all 3 at once. My guess is like Cameron and Osbourne he'll cut taxes and (try and fail badly to) cut the deficit at the same time by slashing those “public works”. And that's just the normal dilemmas of running an economy, without factoring in the billions he's donated to the vulture funds...
Oct 31st, 2017 - 08:34 am - Link - Report abuse -2
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DemonTree
I was about to say the same thing. But it sounds like he will try to cut pensions and possibly other benefits rather than public works.

As for the vulture funds, it was unfortunate but probably inevitable; you can't keep the vultures from the door forever. And it was one of the things people elected him to do.
Oct 31st, 2017 - 10:12 am - Link - Report abuse -1
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Enrique Massot
@DT
Not quite. During his campaign, Macri promised “hard negotiations” and once elected he gave the vultures all they wanted and then some.
Oct 31st, 2017 - 06:43 pm - Link - Report abuse -1
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Lightning
BK, DT, and EM,

Kirchnerism is as rapidly becoming irrelevant as the old woman herself.
Oct 31st, 2017 - 10:22 pm - Link - Report abuse +1
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DemonTree
@Lightning
Why did you bring her up then? This article and all the comments before yours were about Macri.
Oct 31st, 2017 - 10:41 pm - Link - Report abuse 0
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golfcronie
Vultures? If someone said you could get 15% on lets say $ 5 billion in 3 years time, would you not take umbridge if they haggled about paying you, I know I would. They are not vultures, they are business men who want a return on their capital.If you had the money to lend you ALL would do the same. Hypocrites.
Nov 03rd, 2017 - 08:29 pm - Link - Report abuse 0
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DemonTree
Golfcronie, the vulture funds bought those bonds at a huge discount from people who either believed Argentina would never pay or needed the money quickly. They did not get 15% but more like a 300% return on their capital, all from the Argentine taxpayers, and meanwhile the original investors mostly took a loss because they could not afford to fight on for years.

I would NOT invest in a vulture fund, and I think not many people would.
Nov 07th, 2017 - 06:40 pm - Link - Report abuse 0
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