October 23, 2014
The bills in detail
Today’s schedule includes a package of three bills focused on granting greater powers to the government and consumers in consumer defence mechanisms, and a separate bill that attempts to tackle the current debt saga in a New York court.
Local debt payment. With this bill the government wants to remove the Bank of New York Mellon (BoNY) as payment agent, service the country’s debt in Argentina or allow bondholders to swap their bonds for new ones governed by national law in order to get around a US court order.
Anti-Hoarding. The proposed amendments to the Anti-Hoarding Law have caused concern among business leaders. It would allow the state to intervene in procedures of any company to establish profit margins, production volumes, and price levels, among other proposals.
Consumer mediation mechanism. The least controversial of the consumer defence-related legislative package currently in Congress, this bill aims to create a judicial forum to resolve conflicts in the retail sector, where consumers would be able file complaints and receive free legal aid.
Goods and Services Observatory. The third of the consumer defence bills proposes the creation of an observatory where prices of supplies, goods and services will be regularly controlled with the intervention of technical officials and consumer associations from numerous federal ministries.