Effects Of A Default On Expats

[Jaredberryman]

False info to scare you. There won't be any corralito.

Frenchie, that did happen. I'm not saying it will happen again. But you never know what will happen in Argentina. And I am not trying to scare anyone. I'm just saying it's not a good idea to put money in a bank here.

 

[French jurist]

Frenchie, that did happen. I'm not saying it will happen again. But you never know what will happen in Argentina. And I am not trying to scare anyone. I'm just saying it's not a good idea to put money in a bank here.

Yeah maybe wrongly phrased (you didn't say it to scare sorry for that), but sincerely, very few people foresee a corralito (as you likely know), was just to un-scare people who might be new here (important)

 

[semigoodlookin]

I get all of my income from Europe and the US, paid in Euros and Dollars straight into my UK bank account. I have not for the most part been that interested in holding Dollars here in Argentina so usually just take my UK Visa and withdraw pesos from a bank account. How will a default work for my situation, I presume at the very least that it would become hard for me to take pesos out of a bank here?

 

[glasgowjohn]

I get all of my income from Europe and the US, paid in Euros and Dollars straight into my UK bank account. I have not for the most part been that interested in holding Dollars here in Argentina so usually just take my UK Visa and withdraw pesos from a bank account. How will a default work for my situation, I presume at the very least that it would become hard for me to take pesos out of a bank here?

Azimo will be your friend while you are here.

Two options - send dollars to Uruguay or pick up pesos in Argentina at a semi decent rate ( around 18 =GBP ; 14 is the official rate and 20 the blue rate)

 

[Rich One]

What the Vulture Funds have to say about the Default and its effects.

http://factcheckargentina.org/


How an Argentine Default Would Dash the Hopes of Argentine Companies and Provinces

Post date : 07.16.2014 7:40 am
A Bloomberg article published today further illustrates the enormous costs that a voluntary default by the Argentine government would inflict on the Argentine people.
The article notes that Argentine companies and provinces in need of financing are waiting for Argentina’s government to settle with its creditors before issuing any dollar-denominated bonds. The companies and provinces have been forced to rely on local financing in recent years, because the central government’sexpropriation of YPF from Repsol caused borrowing costs to soar.

 

[Gringoboy]

What's happening on the street is a pretty good thermometer and that's even without a default.
I have a PC shop, earn in pesos and have no USD.
I sell on Mercadolibre as well and the downturn in passing trade to my shop has made ML a lifesaver at times.
Now, even ML has died on me and all the enquiries I now get are either silly offers at half price or people wanting to barter.
However, what $$ I do take, I try toput it back in as it's worth more as a commodity than a money note.
Also as McKenna says, there's a lot of greed about and I try to keep things reasonable. I mean, how much mark up do you need before it just gets silly?
Example: Kngston Micro SD card 32g, my trade price (buy) incl 10% discount is $250 compared to high street price of $540.
That's what I call extracting the Michael.

 

[French jurist]

What's your page on ML GringoBoy?

 

[Dublin2BuenosAires]

What's your page on ML GringoBoy?

Get your page in your signature gringoboy, trap lure in the passing expat browser.

 

[French jurist]

Anyway I need to go to his shop (once again Edenor fried my PC...) but that's to get more expat clients for GringoBoy.

I also need an UPS + graphic card (maybe two) + an advanced security system

 

[Don Alberto]

I for one very much doubt this will end in a default.

The domestic political cost of a default is huge and the problems with future investments for developing Argentine resources far to great.

I am also sure, that hopes based on e.g. the planned BRICS bank, China and The Soviet Union Russia are futile, given a 2014 default will be the seventh in Argentine history - not so good for confidence building - leading BancoBRICS, China and The S.. Russia to demand collateral on loans.