Ciccone's intervention aimed to 'recover sovereignty', Lorenzino says

Economy Minister Hernán Lorenzino assured today that the government’s main reason for having taken over the South American Values Company (CVS) money printer company, formerly known as Ciccone Calcográfica, through Decree 1338/12, was to “recover the sate’s sovereignty by being capable of supplying the Central Bank with currency, as well recovering the printers.”

“With this measure the State will recover the ownership of the printing equipment, which is crucial for the domestic market’s supply”, Lorenzino said during a press conference.

Likewise, the Economist stated “The state must maintain sovereignty over its currency, which is why it is fundamental to concentrate the production and minting of legal tender and the printing of safety documents.”

To end, Lorenzino repeated that the bill guarantees that “all workers employed by the company will continue to be employed, while maintaining all labour rights acquired, their current union affiliation and the validity of their collective bargaining agreement.”