Wikinvest Wire

Cry for Argentina's central bank chief?

Monday, January 25, 2010

The situation continue to get more interesting in Argentina as Reuters reports that the fight between President Cristina Fernandez and the nation's chief central banker over the use of foreign currency reserves to pay down debt has intensified.

Police stopped the head of Argentina's central bank from entering the bank on Sunday, hours after he vowed to stay in his job despite a court ruling that the government said meant he had to step down.

Martin Redrado, who is locked in dispute with the president over her plan to use central bank reserves to pay debt, said he went to the bank with his lawyers to see if he would be allowed to enter the premises but that police officers stopped them.

"(This shows) a flagrant violation of the court's order," Redrado said in a statement, adding that he had presented a legal complaint against Cabinet Chief Anibal Fernandez for "impeding him from carrying out his duties."
Not long ago, Redrado was fired but then reinstated the next day by the court.

Can you imaging anything like this happening in the U.S.? President Obama preventing Ben Bernanke from entering the Federal Reserve building?

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Anonymous said...

It would be nice if the police prevented Ben and his cohorts from robbing pensioners/savers any more.

buy r4i said...

The standoff between the Central Bank chief and president has rattled Argentina’s financial markets and led to opposition charges that the government is seeking to undermine the bank’s autonomy.

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