Saturday, February 13, 2010
Las Malvinas Son Argentinas
Having attacked the Falkland Isles (Las Malvinas) and been effortlessly defeated by the Royal Marines, Argentina continues compulsively in its self-destruction. Argentina declared sovereign bankrupcy a couple of years ago and paid 30 cents for each dollar of debt. The Holders of about 20 billion dollars did not accept the arrangement and are demanding full repayment. Barclays is one of the banks advising the Argentine Central Bank how to solve this problem. Now, populist movement is building up against the negotiations, because Barclay is an English Bank and English firms are searching for oil in the Falklands, with Barclay being involved in its financing. Argentine nationalist want to boycott British banks that want to help them to manage their finances. Conclusion: Only fools invest in Argentina.