Argentina V The Bankers: Europe, Take Note.

Argentina, under the stewardship of Nestor and Cristina Kirchner, has followed opposite economic policies to European nations.

Argentina negotiated a restructuring of their debt obligations rather than impose austerity measures on the population.

Argentina's debt to GDP ratio has fallen from over 150% in 2003 to around 45% in 2013 (Spain's has risen from 30% to 120% in the same period).

Youth unemployment in Argentina has fallen from around 36% in 2003 to 19% in 2013 (Cyprus youth unemployment has gone from 9% to 35% in the same period).

Argentina's economic philosophy:

• People come before banks.
• Economic production should replace monetary speculation.
• National sovereignty should prevail over globalisation.

Nester Kirchner, April 2005:

"There is life after the (International Monetary) Fund and it is a good life."

Cristina Fernandez de Kirchner, March 2013:

" How can it be that they want to sacrifice entire nations to small groups that — like these vulture funds — want to impose conditions on the whole world?  I don’t understand it.”

 (The issue is whether the world’s leaders and governments) “will permit a handful of (predators), who can fit in the palm of my hand, to ruin the whole world —
societies with millions of unemployed, homeless, people committing suicide, who lose their jobs, can’t go to school, have no homes — or whether they’re going to put their societies, their people, their countries, their history, and their patrimony, first. This is what’s at stake today in the world. You have to understand this!”

November 2011:

 “Are we going to keep financing the brokers who only produce financial derivatives, or
are we going to finance those who produce food, goods, and services? This is key.”

 “We don’t need austerity policies, but growth policies.  You have to tackle the financial sector so it supports the productive sector, so we can create jobs, so there will be more consumption in the whole world, so we can once again reestablish balance and sanity . . . which many important leaders with great institutional responsibilities appear to have lost.”

Since 2003, the Kirchner administrations have increased investment in science and technology by 937% and repatriated almost 1,000 scientists.

Since 2005, Argentina’s economy has grown at a rate of 8% annually, making it the country with the
second highest growth in the world after China. It has created over 4 million productive jobs; renationalised
the AFJP pension funds privatised by former President Carlos Menem, the IMF’s darling; renationalised the
formerly state-owned YPF oil company; and inspired youth to take responsibility for their nation’s future.

Source: Executive Intelligence Review, July 30 2013.  Please subscribe.