Friday, October 24, 2008

She wants to grab your private pension...















... if you live in Argentina.

She is Argentine President Cristina Kirchner:
Hemmed in by the global financial squeeze and commodities slump, Argentina's leftist government has seemingly found a novel way to find the money to stay afloat: cracking open the piggybank of the nation's private pension system.
...
Having stiffed creditors as recently as 2001, it has few prospects of returning to international lending markets soon. Economists who were critical of the nationalization proposal said it reinforced Argentina's image as a renegade in financial circles.

The private pension system was created as an alternative to state pension funds in 1994, when conservative President Carlos Saúl Menem ran Argentina and free-market policies were in vogue in Latin America.
Read more here.

1 Comments:

Blogger Gexton said...

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9:28 AM  

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