May 25, 2013
Senate preliminary approves Ciccone expropriation bill
The bill to take over the currency printing South American Values Company, formerly known as Ciccone, was preliminary approved at the Upper House, as 44 senators voted in favour and 20 voted against. The bill. which also aims to declare mint a matter of national interest, will be sent to the Lower House floor.
During the previous debate at the Senate today, Kirchnerite members pointed the finger at former governments for the dismantling of the Paper Mint.
At the beginning of today’s special session, led by Vice-President Amado Boudou, Victory Front Senator Aníbal Fernández spoke on behalf of the Kirchnerite caucus pointing the finger at Fernánde De La Rúa and Eduardo Duhalde governments as well as the former head of the Central Bank Martín Redrado for the former poor management of the Mint.
In addition, Fernández assured that the Government’s objective in the event of expropriation of the former Ciccone Calcográfica, “is to recuperate sovereignty in the printing of legal tender” and “avoid that business that should be handled by Argentines, be handled by others.”
The bill was approved for debate at committee stage last week.