November 21, 2017

Compared Argentina's economic issues before 2001 with one in Eurozone

Sunday, June 27, 2010

CFK asks for support for crisis countries, clashes with Sarkozy

Argentine President Cristina Fernández de Kirchner (R) at the G20 conference.

Argentina President Cristina Fernández de Kirchner delebrated that the fiscal adjustments were not "legitimized" as a solution to the economic crisis at the G-20 meeting in Toronto, Canada, according to a news agency.

She asked the G-20 countries not to "let go of the hands of any country" that goes through an economic crisis, which she labeled a "tragedy."

During the meetings held over the weekend, she compared Argentina's economic issues before the 2001 crisis with the one lived in European countries, which led to a bit of a clash with French President Nicolas Sarkozy.

According to the president, in 2001 "Argentina was cut off" to expose it as a failure before the world, and Fernández de Kirchner blamed mostly the International Monetary Fund for this and the organization's then-director, Anne Krueger.

She also reminded listeners that the measures of taxes, employment flexibility and salary cuts applied at that time by the Argentine government were not the solution.

Sarkozy responded by saying that the Latin American representatives who reject the Eurozone adjustments do not know the "harrassment" faced by the euro, to which Fernández de Kirchner responded that he shouldn't "question somebody" just because he doesn't "agree" with what they say. She also clarified that Argentina is interested in the euro because parts of its reserves are held in euros.

When speaking to the press later on, she said that she's "sure that Sarkozy does not have even one cent in Argentine pesos in his Central Bank."


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