Posted on 01/29/2010 7:20:04 PM PST by Cheap_Hessian
BUENOS AIRES, Argentina (AP) -- Argentina's Central Bank chief resigned Friday, saying he could do no more to protect the nominally independent institution from the president's efforts to control its dollar reserves.
Martin Redrado claimed credit for bringing Argentina monetary stability for the first time in 30 years, but said President Cristina Fernandez had disregarded this achievement while unconstitutionally ordering his removal.
"I went through all the institutional steps," he said. "Unfortunately, the government didn't do the same and disregarded the independence of the Central Bank."
The president ordered Redrado fired this month after he refused her decree to make the bank's reserves available for paying off $6.6 billion in national debt and also for spending of undefined "excess reserves" for other purposes.
(Excerpt) Read more at hosted.ap.org ...
Ping!
Found an update.
I guess he didn’t eat enough pork to please her.
Ah! Thanks.
Another example of how a country goes from one of the wealthest in 1900 to an economic basketcase.
So, what’s the NEW Argentine currency going to be called aafter the dust settles? I’ve got 10 Freepathon dollars on the “Christina”.
Thoughts?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.