Only In Argentina (hats off to Pablo Neumeyer)

“Only in Argentina” is a phrase Argentines use as an auto-critique for the stranger things that happen in their country. It’s often trotted out to explain away events that can sometimes leave outsiders rather bemused.

I had an “only in Argentina” moment while catching up on the news tonight. With Pablo Neumeyer’s excellent argument on INDEC inflation tampering…

http://www.rgemonitor.com/latam-monitor/392/indecs_default_4600_million_dollars

…still fresh in my mind, I came across this piece of news in Argentina’s esteemed “La Nacion”.

http://www.lanacion.com.ar/economia/nota.asp?nota_id=952178&pid=3330945&toi=5262

For Spanish speakers, it is well worth reading the whole article to get a better feel, but in essence today there was a protest march in downtown Buenos Aires by supporters of the present Kirchner administration. The march protested in front of financial institutions such as the local offices of Citibank, HSBC, Banco Santander and Allianz. The reason for the march; to protest about how these institutions sold Argentine bonds as an apparent reaction to the tampered INDEC inflation numbers.

The quote I would most like to share comes from the protest leader and Kirchner loyalist, a certain Jorge “Quito” Aragón, who said (translated);

“The motive (for this march) is not to allow the financial system to pressure the government into raising inflation.”

I had to read it three times. We can deduce from this:

1) The current administration picks and chooses its inflation rate. 2) Financial institutions are brazenly pressuring the government into being honest. 3) People that lend Argentina money are the root cause of its problems. 4) Foreign investors are welcome to buy Argentine bonds but risk picket lines if they want to sell them into a free market.

Tell me, is there an election coming up soon?

3 Responses to "Only In Argentina (hats off to Pablo Neumeyer)"

  1. Guest   October 12, 2007 at 7:20 am

    In Argentina we don´t know the meaning of the word responsability. All our troubles are caused by evil foreigners (IMF was one of our favorites for years).
    But then, JWB also blamed Iraq for everything that was wrong in the world…

  2. mangy cat   October 13, 2007 at 6:33 pm

    with the powers that be having raved against allianz a few months ago, it was ironic that to celebrate 150 years of wheeling and dealing with germany (prussia), b.a. mayor don teletubi allowed allianz to dress the downtown obelisk (mini washington monument) in red yello and black

    on a recent world aids day the health ministry draped it with a huge pink condom

    any connection?

  3. mark turner   October 14, 2007 at 2:17 pm

    Thank you for leaving something to the imagination, mangy!

    The mystery is why the K-mob should protest outside an insurance company…the last time i checked they weren’t so very hot on bonds trading.

    As for tellytubby, methinks you might miss him once Macri has had a while. That Google Earth has all sorts of uses, eh?