Cristina Fernández , President of Argentina

The Argentinean Congress has agreed on the nationalization of the pension funds, despite the opposition’s contrary opinion.

The Government run by President Cristina Fernández de Kirchner has won yet another political battle yesterday, by obtaining the approval of the Congress on the nationalization of the pension funds.
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Cristina Fernandez, President of Argentina

Argentina’s president, Cristina Fernandez, has issued a bill which has the purpose of nationalizing 10 of the country’s private pension funds.

She declared that this is a protective measure against the global financial crisis, and it is safer if the almost $30 billion of investments are administrated by state authorities.

The bill is yet to be approved by the Congress, but as the ruling party has the majority, it will probably get through.

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Posted under International, Politics