Argentinian government is taking over Vicentin?

[on the brink]

You can pontificate these conspiracy theories about why they `protest ..! will never know if you are proven correct .! So your predicament is as correct as anybody else's theories. So it's pointless to debate your arguments.

IMHO Jeremias offers no arguments - deals only in cliches. As a slogan-repeating machine, it is a perfect example of brainwashing.

 

[antipodean]

-

As of this morning, Alberto is busy backpedaling to get out the Vicentin mess Cristina pushed him into.

Amazing he is only now realizing that perhaps "expropriation" is not such a good look or clean word after all...

1. The explicit rejection of Roberto Lavagna, who is his main economic adviser in the shadows
2. Spontaneous demonstrations in Santa Fe against the decision to expropriate Vicentin
3. The strong casseroles in the Federal Capital
4. The doubts raised by the main business chambers
5. The resounding fall of Argentine stocks in global markets
6. The charge of abuse of power filed by representatives of the opposition
7. The political crisis facing the governor of Santa Fe, Omar Perotti
8 . Unanimous criticism of agricultural organizations
9. The controversial legal argument to support the political decision to expropriate

I would also add:
10. Stark rejection by European and foreign diplomats in Argentina concerned about investor rights
11. As I understood, the expropriation provisions Albie was using are actually emergency laws leftover from the dictator era. Awkward.

Somehow this guy is supposed to lead us through the worst economic crisis the country has ever faced.

 

[on the brink]

Somehow this guy is supposed to lead us through the worst economic crisis the country has ever faced.

Horrifying thought....!

 

[gracielle]

Cumbre en Olivos: con qué plan recibirá Alberto Fernández al dueño de Vicentin

Sergio Nardelli solicitó el encuentro para acercar una propuesta y el presidente puso condiciones. Los detalles de una reunión que podría definir que pasa con la expropiación.

www.clarin.com

11 June 2020 at 9:31am
New official strategy
Summit in Olivos: with what plan will Alberto Fernández receive the owner of Vicentin
Sergio Nardelli requested the meeting to come up with a proposal and the president set conditions. The details of a meeting that could define what happens with the expropriation.

Alberto Fernández will receive this Thursday, at 18:00, Sergio Nardelli, the CEO -or former CEO- of the company Vicentin. The meeting was agreed on Wednesday and was part of a frantic negotiation between Olivos and the businessman, after the government ordered the intervention and promoted the expropriation of the company, one of the most important in the agricultural business.

Nardelli, who hours ago had a telephone conversation with Fernández, requested a hand-to-hand meeting and the President, through the governor of Santa Fe, the Peronist Omar Perotti, made a condition: that the company accept the intervention DNU that he signed on Monday.

This is how it was: in parallel to the movement of Banco Nación, a creditor that has 20% of Vicentin's debt, the firm presented itself in the bankruptcy and asked to validate Gabriel Delgado - appointed by Casa Rosada - as the controller, the company that first he had refused to receive the government delegates, but then accepted them.

In the afternoon, in the midst of comings and goings, by means of a brief statement, the company reported that in order to "preserve social peace" and "avoid damage to the patrimony", it contacted the auditors.

It was a turnaround: on Tuesday, the deputy inspector Luciano Zarich had not been able to enter the firm's headquarters located in the town of Avellaneda, in the north of Santa Fe.

Fernández, as Clarín reconstructed, had several talks with Nardelli and with "emissaries" of Vicentin, in addition to numerous conversations with Perotti, the governor of Santa Fe, who this Wednesday - to differentiate himself - circulated his proposal of "an intervention without expropriation".

The President accepted the meeting with Nardelli but, according to what he transmitted to his environment, he does not expect proposals very different from those that the businessman sent him in recent months.

"Since Alberto took office, Nardelli has sent emissaries for the State to rescue Vicentin. He approached several proposals, all referring to state intervention but avoiding expropriation," Clarín told top-level government sources. Fernández, assures his environment, listened and wrote down each proposal. There were, in particular, two on which the company - according to official sources - hammered on a recurring basis.

One, consisting of the State buying part of the Vicentin share package. Fernández discussed this alternative with lawyers and officials and concluded that it was not feasible for the State to acquire shares in a bankrupt company.
"The only viable and transparent way to take control of the company is expropriation," said the President.

Another proposal that came to the government from the firm was that YPF rent the operation of the port of Rosario, which is concessioned to a joint venture in which Vicentin participates to inject resources into the cereal company.

"I did not wake up and said 'today I am going to expropriate Vicentin'. We have been looking for alternatives for months, but the company is in free fall and we only found a way; to intervene and move forward with the expropriation," Fernández transmitted to a group of collaborators. Wednesday night in Olivos. From the close environment of the President they warn that alternatives were sought but it was judged that the only viable one is expropriation, which is specifically established by law.

"It is not a political problem, it is an economic problem for the company: it is collapsing, international creditors want to speak to the State, job sources and 2,600 producers who Vicentin stopped paying are in danger," argue Olivos and add One line: it is a strategic sector that "cannot be left to external capital."

Perotti also argue that the company is not in the hands of international capital but suggests another way out. The governor acted as liaison for the talk between Fernández and Nardelli, did not participate in the expropriation announcement last Monday, but then defended Delgado, the intervention and praised the leading role of YPF Agro. With one detail: he never mentioned the word expropriation.

At their side, they talk about looking for a mechanism that allows the company to be rescued without resorting to expropriation. Perotti fueled this scenario on Wednesday. But of late, from Olivos, insisted that there is no hypothesis in sight other than expropriation .

In the government they understand that Nardelli's resistance to expropriation is that he loses control of the firm and that he does not want that for fear that official "loans with credits granted" issued during the administration of Mauricio Macri will come to light. There is already a court case in this regard and the Ultra K Oscar Parrilli proposed creating a bicameral commission to investigate these alleged irregularities.

Cumbre en Olivos: con qué plan recibirá Alberto Fernández al dueño de Vicentin

Sergio Nardelli solicitó el encuentro para acercar una propuesta y el presidente puso condiciones. Los detalles de una reunión que podría definir que pasa con la expropiación.

translate.google.com

 

[Dougie]

Amazing he is only now realizing that perhaps "expropriation" is not such a good look or clean word after all...

It might be encouraging that some pushback has lead him to reconsider. If CFK was president the pushback would just embolden her even more to do it.

 

[antipodean]

It might be encouraging that some pushback has lead him to reconsider. If CFK was president the pushback would just embolden her even more to do it.

Maybe it was part of the game. The CFK camp push him to make such a declaration knowing that it will cause him to loose significant trust and credibility from pretty much every imaginable sector. As the crisis progresses over time further blunders will accumulate on top of this one to paint a picture of a bumbling and inept fool who only knows how to write theory and legislation, not run a country or an economy. Meanwhile judicial reform is taking place to clear up CFK from these pesky corruption charges and remove some transparency and barriers to further corruption. Once the moment is right he goes under the bus and she comes on stage dressed in a white poncho like our modern day messiah-queen to deliver salvation to the poor and desperate masses, or at least enough masses to be able to win an election on her own.
Stay tuned, on the next episode we will see if Albie sharpens up and plays her at her own game. Will the king-pawn become the pawn-maker?

 

[on the brink]

Maybe it was part of the game. The CFK camp push him to make such a declaration knowing that it will cause him to loose significant trust and credibility from pretty much every imaginable sector. As the crisis progresses over time further blunders will accumulate on top of this one to paint a picture of a bumbling and inept fool who only knows how to write theory and legislation, not run a country or an economy. Meanwhile judicial reform is taking place to clear up CFK from these pesky corruption charges and remove some transparency and barriers to further corruption. Once the moment is right he goes under the bus and she comes on stage dressed in a white poncho like our modern day messiah-queen to deliver salvation to the poor and desperate masses, or at least enough masses to be able to win an election on her own.
Stay tuned, on the next episode we will see if Albie sharpens up and plays her at her own game. Will the king-pawn become the pawn-maker?

Scary....! And only too likely. Cristina is unhinged, revengeful, and corrupt but, sadly, she's also a very shrewd political manipulator.

Alberto is no match for her enormous fury and ambition.

 

[Redpossum]

Scary....! And only too likely. Cristina is unhinged, revengeful, and corrupt but, sadly, she's also a very shrewd political manipulator.

Alberto is no match for her enormous fury and ambition.

Great leaders always produce extremely varied reactions. I would describe her in far more positive terms.

Just out of curiosity, do you live here in Capital Federal, or in the Provincia?

 

[semigoodlookin]

Great leaders always produce extremely varied reactions. I would describe her in far more positive terms.

Terrible leaders too it seems.

 

[Stantucker]

Great leaders always produce extremely varied reactions. I would describe her in far more positive terms.

Just out of curiosity, do you live here in Capital Federal, or in the Provincia?

How would you describe her, as honest, ethical and caring?

I think you are forgetting that 41% of Argentines voted for Macri after he has royally messed up the economy, not that he was handed an economy in great shape. Given how badly he screwed up, it's amazing that so many people would still vote for him unless they had a very good reason not to vote for Cristina and her ticket, namely corruption? The only other answer is that 41% of Argentines are oligarchs and/or anti-perionists and were never going to vote for a peronist anyway.

It always strikes me as how defensive she is. People who know that they had done nothing wrong and that they have nothing to hide don't have to be so defensive and to always play the victim card.