Argentine pension plan has local, global impact (Reuters)

Argentina's President Cristina Fernandez de Kirchner speaks at the National Social Security Administration in Buenos Aires, October 21, 2008. Fernandez de Kirchner signed on Tuesday a bill for a government takeover of the $30 billion private pension system in a daring and unexpected move that rocked markets. (Marcos Brindicci/Reuters)Reuters - Argentina's surprise plan to nationalize its private pension system caused chaos on local markets on Wednesday and raised fears about a debt default, sending a ripple effect of fear about emerging-market investments into European stocks and Asian bonds.


Reuters

Posted by admin

No Comments Yet - You can be the first to comment!

Sorry, comments for this entry are closed at this time.




  • Report: Merkel calls for far-reaching regulation (AP)