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Weekly Report - 23 October 2008 (ISSN 1741-7422)
ARGENTINA: Ulterior motive lies behind pension reform
President Cristina Fernández decided to send a
bill to congress this week to nationalise Argentina's 10 private pension funds.
She claimed to be acting in the interests of Argentine pensioners and workers at
the mercy of speculators. The political opposition united in accusing her of
“ransacking" the savings of those she claimed to be protecting in order to stave
off default next year. If this unity carries over into the congressional debate
on the bill, and Peronist dissidents make their presence felt, then the
government could be staring at a humiliating defeat to match the recent
rejection of its agricultural reform bill.
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