Monday, March 14, 2016

'If holdouts bills are not approved, there will be cuts'

Vicepresident Gabriela Michetti today agreed with president Mauricio Macri’s Sunday statements about the urgent need to settle with holdout creditors and warned that if the bills are not passed by the Congress “we will have to implement cuts.”

"There is no other way to ask for credits because there is no money,” she said.

Macri’s statements on Luis Majul TV show last night sparked controversy when he said “there is no alternative” to the deal signed with holdouts. “The way to gradually get out of the disaster the Kirchnerite government left is to gradually adjust. A gradual growth reducing all the imbalances we have. If Argentina is left outside the world, Argentina cannot even start to walk the path towards development,” Macri stressed.

“How we will ask for financing in the world at a low rate? We won’t be able to do so. How we will get resources to finish pending public works or to keep sustaining social plans? We understand the most important thing is to sustain and try to get people out of poverty,” Michetti said and fired against the Victory Front: “The are standing on a very comfortable position. They have provoked the country’s indebtedness, and left ANSES, PAMI and all the agencies under an enormous deficit situation.”