"We take care of financial debt and the social debt"

So President Cristina Fernandez de Kirchner announced yesterday at the Stock Exchange pay the Boden 2012, which closes a sad chapter in Argentina's history and opens up new horizons, with a more free and sovereign Argentina, now could grow. The president raised the main thrusts of his administration: the state debt reduction and economic growth with social inclusion. The president remarked, "is an occasion for reflection, not to celebrate"

"Let us not be more agile, (gurus) lie and cheat to make extraordinary profits," he said yesterday President Cristina Fernandez de Kirchner to the elite of the financial establishment gathered yesterday at the Stock Exchange. The institution celebrated its 158 anniversary, but the celebration was in the background behind the expectation that generated the conclusion of the last payment of Boden 2012, this title was given to depositors in exchange for the confiscation of their deposits in dollars in 2001.
"It is an emblem of social and cultural crisis it caused, and generate a lot of violence in society"

CFK always marked parallels between the current European crisis that Argentina went through that scene 11 years ago: "This is not a crisis of confidence, there is a tremendous speculative crisis, we met very well in Argentina, by strangulation of the external sector public, private and family, "said Fernandez de Kirchner. The president rejected the argument of excessive public spending in the fact that injections of the governments of the United States and Europe are focused on saving the financial sector and economic activity. "Nothing was directed at the real economy. The funding was only for banks to recover the positions (financial) adopted in other countries "
Which makes it similar to the situation prior to the yard in Argentina, as you said to save the banks at the expense of savers.

Here I give you the video with an excerpt from the speech yesterday:


link: http://www.youtube.com/watch?v=TVykOODDZ6g

After making history of Argentine debt memories Bernardino Rivadavia, Jose Martinez de Hoz and Domingo Cavallo, conducted a review of the change in debt between 2002 and today because of restructuring and debt reduction policy. Total public debt meant 166% of GDP in 2002, while at 31 December 2011 the figure dropped to 41.8%, an issue that is added is that most intra public sector. Meanwhile, the fraction that is held by the private sector in foreign currency was 92% of GDP by exploiting the economic crisis and became 9.6% in 2011, a percentage that will fall to 8.4% with the payment of Boden 2012.

"Tomorrow (today) are paid 2.197 billion dollars, some 10,100 million pesos. The 22 percent is in the country, the rest are foreign investors, "he predicted. The President recalled the criticism in recent years about the possibility that the government complies with the services of this paper. This, he explained, meant that many holders of the Boden malvendiesen these gurus, now presented for collection. "The country's largest holder is a union or opposition or ruling, and the second is a consultant who said that these papers were going to pesificar" he said and invited not to be fooled by the analysts of the establishment.
In times where reappear these economic gurus criticizing the policy of state, when at that time many of them defended and supported the confiscation of people's savings.

Contrasts of yesterday and today

During the national chain also held a comparison between Europe and Argentina in crisis. In this vein, the president said the government of Spain anchored to a bank with 230 billion euros, while repressed a march of miners to keep their jobs required a figure that was around € 200 million. "They give money to the banks so they can retire in compromising positions, is very similar to Argentina in 2001 when the debt swap shield and made him believe that their resources were all safe," he said. He then referred to the Law on the Deposit Intangibility allegedly gave a signal to the markets and stressed that "resources are guaranteed with resources, not speeches or words or laws."
With so palpable experience of Argentina, Spain and the rest of Europe even as the IMF handles sends, bringing to fruition not the Europeans.

Betting on social policies, has been another increase to retirees

The increase is from September, as the law of motion. With the increase in March, the cumulative improvement in the year comes to 31 percent. Having minimum of 1879 will become pesos and 45 pesos 1924 with the PAMI.
"This increase is also part of the policy of economic growth," said the President, who emphasized the need to strengthen the domestic market to withstand the global crisis. The measure involves distributing among retirees 1.611 billion pesos more per month or 20.948 million in one year. The Government, moreover, is shaping a future rise in family allowances and the Universal Child Allowance, which will contribute in the same direction to strengthen consumption. The other initiatives launched by Government House is a credit card to retirees by Argenta, mortgages Pro.Cre.Ar. plan, funding for long-term investment with contributions from the 31 largest banks and a program of road works to be funded with an increase in tolls. "This is what Europe does not understand, you can not overcome the crisis but adjusted measures to sustain aggregate demand," polemicized CFK.



To speak to media after finishing his speech at the Buenos Aires Stock Exchange, Cristina said that as part of the financial crisis facing the world, Argentina "can meet its financial obligations, but also to meet their social obligations ".

"This does not make us either geniuses or anything else-pointed Cristina, is simply that we have always believed in work, production, add value, always with an eye to the social and the idea of that the poor are less poor, "concluded the President