More of the same: The New Austerity and the end of gradualism of Mauricio Macri. A comment by Old Socialist

Here is the ’emerging Party Line’ on the ‘Argentine Crisis’ from the Neo-Liberals, as reported in The Financial Times :

Investors have been looking for the government to ditch its policy of “gradualism” in reducing its spending, and many analysts said they welcomed the promise to eliminate the primary budget deficit by next year.

“This is the only way they will arrest this crisis,” Federico Kaune, head of emerging market debt at UBS Asset Management, said ahead of Mr Dujovne’s announcement. “They need to show that the strategy has changed from gradualism to a more orthodox fiscal tightening.”

However, fund managers say that, after mis-steps and a worsening crisis that has burnt many investors who kept faith with the government, markets will need to see tangible evidence and hard commitments before they dip back in.

When all else fails, and it has, the Neo-Liberals simply make their failed and failing Austerity more draconian! The destruction of civil society, as the in -order-too of saving The Market!  Welcome not just the truck driver to the streets, but what is left of the Middle Class and the Porteños. Mauricio Macri welcomes back the de Kirchners, or their epigones. 

Old Socialist 


About stephenkmacksd

Rootless cosmopolitan,down at heels intellectual;would be writer. 'Polemic is a discourse of conflict, whose effect depends on a delicate balance between the requirements of truth and the enticements of anger, the duty to argue and the zest to inflame. Its rhetoric allows, even enforces, a certain figurative licence. Like epitaphs in Johnson’s adage, it is not under oath.'
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.