The Mudcat Café TM
Thread #47402   Message #716585
Posted By: Escamillo
24-May-02 - 03:23 AM
Thread Name: BS: Argentina - staying alive
Subject: RE: BS: Argentina - staying alive
Thanks Katalina for the link, it's very interesting that people out there can realize the deepness of this disaster. For anyone not well informed on what Argentina was like, before the Big Robbery, I would recall that poor people in this country did never know HUNGER, except in some very rare situations and remote regions, but today the hungry people rides with you in the subway, faint in the long lines at the banks, crowd the charity dining rooms.

What ashames me most is, that at the same time the luxury of the government officers has not been cut at all, the 140 billion dollars of Argentineans in USA and Europe are well invested, our soccer team travels to the most expensive country in the world, and the warship Libertad departs for a world-wide instruction trip carrying proudly the Argentina flag to many ports of the world.

Unemployment is officialy rated 20% but widely admitted in 30%, plus another 20 or 30% underemployment. Problem is that many people have abandoned the search for a job, and then fell out of the statistics. The supposed loan from the IMF is 8 billion, of which 6 billions will be immediately destined to pay overdue interests of previous loans, and 2 billion fresh. Considering that only in 2001, 60 billion of private deposits run out of Argentina with the complicity of all banks, those 2 billions are a water drop in the ocean. Apparently we are obeying the IMF and dropping our last defenses (while US and Europe reinforce theirs - see the recent Farm Bill) just for 2 billion dollars and vague promises of good business. What business ? Import computers and export raw meat ?

There's something very odd: it is generally considered here that the USA is willing to deprive European corporations from their businesses in Argentina, in a kind of revenge for that invasion of European capitals in the 90's which displaced US capitals from almost all the large and abusive appropiation of oil, energy, communications, routes, railroads which were privatized in that decade. "So," our geniuses said, "Europeans will support us against the pressure of the IMF, which is governed by the US, right ? " - WRONG. Duhalde came back from Europe bearing the pressure of all European governments who promised to allow important business with Argentinean products ONLY after Argentina reaches an agreement with the IMF (which is not fully driven by the US, by the way). And what did they expect ?? That Europe would jeopardize their tight relations with USA just for some beans disputed far in the South ?? Our governors (?) are skilled thieves for their own people, but naive beginners when confronted to the owners of the world.

LH, sorry to hear that about Toronto, a city I've never visited but impressed me so well in every thing I saw or read. Buenos Aires still maintains some dignity but the situation is rapidly deteriorating. Fortunately, safety is still acceptable, and tourists invade the streets buying everything.

The Scotia Bank is closed, is on sale, money in open accounts are frozen as well as savings accounts, and 1,800 employees are seeing the end of their jobs soon. No funds will come from Canada. The French Credit Agricole put other three banks on sale, in this case (why?) the National Bank of Argentina took control and reopened the three banks in one week. People keep closing accounts in foreign banks and opening new accounts in local state banks, because the states are supposed to stay in the country and never bankrupt (ha!) Soon there will be no foreign banks here. In fact, with all those abusive laws in the 90's, the banking business was brilliant in Argentina for 10 years, and we have had more banks than bakeries.

One small chapter appart for Kat: this wonderful friend has called me two times just to know how we were doing, it was a pleasure to talk to her and I wanted to publicly say THANKS, KATALINA.

Re my reply to Guest: sorry for the obscenity, but that was good ! ha! I was wandering wheather nobody was going to laugh, not even the Guest! :))

Un abrazo - Andrés