Buenos Aires—You will not read about Luis Bianchi’s views in mainstream Western press accounts of Argentina’s tough negotiations with global financial institutions. Luis Bianchi drives his battered black and yellow taxi here, for 12, 14, sometimes 16 hours a day, with an hour or so off for the early afternoon meal. He is 75 years old, but he is too… return to article
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Reader Comments (7)Page 1 of 1 pagesI think this is the sort of thing that helps election chances for left-leaning leaders. In the worst-case scenario (for the U.S.) it probably leads to talk of socialism or some such. That’s when the U.S. gets out the big guns and supports a nice military dictatorship which is friendly to the west.
Posted by Honking it on Dec 14, 2004 at 5:22 PM As an Argentine citizen I would like to clarify something. Argentina’s foreign debt started during the military regime 1976/83 and great part of the loans were granted not to the country but to businessmen who profited from being friends of the regime. In 1983 the military decided they had done their dirty job of disappearing all those who opposed them and just before leaving they nationalized those debts.
This same measure was taken in most small countries and it is no wonder we find ourselves indebted. All those loans were taken out of the country and deposited abroad by members of the government and their so-called businessmen. Right now, there are 130.000 million dollars in secret accounts in Switzerland, and other fiscal paradises.
It is obvious the IMF and foreign banks know who they lent most of the money to but it is never spoken about and it is pretty obvious that the nationalization of the debt was imposed by them, as a means of making sure they would one way or the other be able to get their pound of flesh.
This is perhaps the best-kept secret in Argentina, most people don’t even know about this deal but I give you my word it was done that way and I wouldn’t mind being called as a witness to prove it.
Posted by Maria Luisa Etchart on Dec 14, 2004 at 11:32 PM The planning behind this expansion of poverty in Argentina is no surprise. I lived 2 years in S. Africa where the IMF and World Bank had been courting the Mbeki gov’t for years with golden promises. What actually happened was more shanty towns ("townships") and fewer REAL work for “black” and “colored people” (yes, they do differentiate) after these institutions had interfered with the SA economy. Soweto, the origin point of the ANC is now so under seige by young men who have tv’s at home which lead them to want things they cannot afford so they go out and steal. There is no democratic movement of any kind now.
Argentina and many other “poor” countries have a chance to resist by just giving the bond holders exactly what the middle income folks who invested innocently in Enron got.Indeed, if the IMF and World Bank had any conscience at all the debt would be “absorbed” in all the nations that have been coerced into signing bond agreements. SA has been paying its bond debts slowly but has long been considered a “developed” country. All this is a perfect example of how these institutions are specifically aimed at breaking the economies of poor nations, those mostly being those that do no make or buy military hardware. SA does not need to. Over the last 3 years, of Kalishnikov type weapons sold on earth have come from SA.
Those of us left who can see clearly what is going on must find some way to undermine the IMF and World Bank so that Luis B. and others like him can continue to live in peace with security. The monied classes have no shame or conscience. Only we who _may_ have can do something about this.....
Posted by daigu on Dec 14, 2004 at 11:41 PM As an Argentinian I’d like to point out something. Whatever it may be said about the military regime, at least there was no misery as there is now. I’d never thought I’d say it, bring back the army.
Posted by Manolo on Dec 15, 2004 at 12:54 PM In response to Manolo: you bring up a subject that I’ve been discussing often recently - order over freedom. Many may have seen the Ben Franklin quote re: those willing to trade freedom for order deserve neither (paraphrased), but pithy comments aside, is it worth it? To starve freely or eat in fear? Tough choice.
In the particular case of Argentina, they are under a larger global economic order, hence not free, nor locally organized to meet the needs of all. Perhaps one should consider longer-term goals -like community sustainability working in global networks - than the quick fix of fascism.
Posted by rocco on Dec 16, 2004 at 10:27 AM Perhaps if more people knew about the horrible practices of the IMF and World Bank and the affects that they are having on individual lives, then perhaps more people would act. The problem with social movements today is that there are so many divisions - gay rights, environmental protection, economic desparities, unions, etc. etc. How can all impassioned people find a common bond? We have the numbers, but not the recognition of a common goal.
Perhaps the web of social ills in the world today would be alleviated if everyone could SEE the web - the connections. The U.S. mainstream media only hinders this possibility with their soundbites and a lack of depth or insight in their portrayal of events. So where is the hope? For any movement there must be a mobilization in the minds of a larger majority of the people. Is that possible today in the age of information and media conglomerates?
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