Ραγίζει απόψε η καρδιά

Δεν θα κρυψω οτι ήρθα απο Αργεντινή με τα malambo και τα cuecas,εδώ και 20 τόσα χρόνια ζώ στην Θεσσαλονικη,περίχωρα ό,τι θέλετε.Ο καθένας μπορεί να βρεί απο πού εκπέμπω τις σκέψεις μου.
Όταν πρωτοήρθα στην Ελλάδα, ειλικρινά σας μιλώ,δύο τραγουδιστές “μίλησαν” στην μισή ελληνική ψυχή μου,ο ένας ήταν ο Μάλαμας και ο άλλος ο Παπάζογλου.Και ένας συνθετης,ο Παπακωνσταντίνου- ο Θανάσης.Είχα τη τιμή και χαρά να τους γνωρισω και τους τρείς.Ειχα τη χαρα να γνωρίσω και την Κανά και την Καλημέρη.

Είχα τη χαρά να μπορώ να καταλάβω τί ακριβώς εστί ελληνικη κουλτούρα.

Ενα μεγάλο ευχαριστώ στη μητέρα μου για αυτό και ας μη χρησιμοποιεί το διαδίκτυο

Μια ασπιρίνη και καφέ κι ύστερα δυό τσιγάρα............

Είμαστε όλοι παραβάτες!

Αιντε εκει μακριά μακριά στην Ανδρομέδα αιντε πίνουν τσίπουρο και τρών λακέρδα
Αιντε εδω σιμα κοντα δυο μετρα βαθος
Αιντε λεν πως φυλακιζουνε το παθος
Αιντε ριχνουν χωμα
με λουλουδια ραινουν
Αιντε και θαρρουν
ΘΑΡΡΟΥΝ ΠΩΣ ΞΕΜΠΕΡΔΕΥΟΥΝ!

Αυτή ειναι η Ελλάδα που αγαπώ!
Αυτή την Ελλάδα θέλω πίσω!
Αυτη είναι η Ελλάδα με την οποία μεγάλωσα!

“Σι γιου αφτερ δε στορμ γκοους εγουέι” !!!!!

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Αχ Ελλάδα!

Ενώ η Ευρώπη χάνεται κυριολεκτικά κι ενώ οι τράπεζες ακόμη πλουτίζουν εις βάρος των πολιτών της Ευρώπης,κι ενώ οι πολιτικοί της φοβούνται πιό πολύ για το μέλλον της καρέκλας τους παρά για το μέλλον των λαών τους, εδω εξακολουθούμε να αποτελούμε ενα μοναδικό φαινόμενο!

Κατα γενική ομολογία πλέον πλήττονται και όσοι κρατούσαν τις επάλξεις.. αλλά! Αντί να βάλουμε τα μυαλά μας κάτω να σκεφτούμε πού βρίσκεται η λύση και πού όχι, αντί να εκμεταλλευτούμε τα γεγονότα που τρέχουν προς όφελός μας ,όπως η περιπτωση Lagarde, αντί να δούμε πέρα απο τη μυτη του συνομιλητή μας,εμείς επιμένουμε “ελληνικά”!!
Με θάρρος και θράσσος όλα μα όλα τα βlog είναι γεμάτα σχόλια για το τί δεν πρόκειται να κάνει ο ΣΥΡΙΖΑ ή τί δεν πρόκειται να κάνει ο Καμμένος.Και αφού εκτονωθούν καμμιά 40 χρόνια δικομματικής βλακείας και βολέματος,καταλήγουν να κατηγορούν ο ένας τον άλλον για ανθελληνισμό!

Δηλαδή μας προκύπτει ενας φρεσκος νεαρός και παλι δεν τον θέλουμε.. γιατί είναι νεαρος και άπειρος,λένε οι πολλοι.. Καλά και οι υπουργοι του Αντρέα το 1981 ήταν έμπειροι; Απο πού κι ως πού;Τη μαύρη τους την τυφλα δεν ήξεραν κατι σαν το “βυθίσατε τ-η-ν “Χώρα”

Μας προκύπτει κι ενας Καμμένος για αναδάσωση της καμμένης γης που εχει περπατήσει τη χώρα απ’ακρη σε άκρη και πάλι δεν τον θέμε!

Όλα τα δεινα της ελληνικής φυλής,των Αχαιών,των Πελασγών,των Ιώνων ή των Δωριέων εχουν συσσωρευθεί στις πιό καθαρές φιγούρες που είδαμε τα τελευταία 40 χρόνια μετά απο τόση βρωμιά που αποκαλύφθηκε.Και πάλι δεν μας κάνουν!

Ε,τότε ας το κλείσουμε το μαγαζί.Δεν πουλάμε άλλο,τα αφεντικά έφυγαν με off shore λογαριασμούς κι εμείς στη μιζέρια μας διυλιζουμε τον κώνωπα.

Μη με ρωτάτε αν εγω βρήκα τους εκφραστές της ζωής μου, όχι βέβαια.Αλλά εδω που βρισκόμαστε πια λέμε το μή χείρον βέλτιστον μέχρι να ορθοποδήσουμε.

Κάτι ακόμη που ξεχνούν οι μελλοντικοί ψηφοφόροι και νυν σχολιαστές των πάντων είναι οτι με τον αρνητισμό δείχνουν οτι πιο πολύ επιθυμούν να διατηρήσουν το παλαιό σύστημα και την διαφθορά παρα να επιδιώξουν τις αλλαγές που διατρανώνουν οτι επιδιώκουν με τη ψήφο τους.

Το όλο νόημα αυτών των εκλογών,όπως το αντιλαμβάνομαι εγώ,είναι να στείλουμε το μήνυμα οτι ρε φίλε εμείς σου δίνουμε την εντολή αλλα πρόσεχε τί κάνεις γιατί δεν θα τη βγάλεις καθαρή και οτι απο εδώ και εμπρός σε εμάς θα λογοδοτείς και όχι στο ΔΝΤ

Το όλο νόημα είναι να αποτινάξουμε τη ταμπελίτσα που μας έβαλανσαν τεμπέληδες κλέφτες ,την ώρα που κοιμόμασταν.
Τι;
Ακόμη κοιμάστε με τα πολιτικά νανουρίσματα;

Μα τι κρίμα,πάει το βόλεμα σε μια θεσούλα στο δημόσιο,τελείωσε κι εσείς ακόμη παραμυθιαζεστε!

Το επαναλαμβάνω.. όπως εναντιωθήκαμε σύσσωμοι στην tax free Mrs. Lagarde ετσι πρέπει σύσσωμοι να βάλουμε υπο τον δικό μας έλεγχο την ΔΙΚΗ μας αιρετή ηγεσία.
Διαφορετικά μή σε δώ στην πλατεία να διαρρυγνύεις τα ιμάτιά σου.

Οι κυβερνήσεις πρέπει να φοβούνται τον λαό κι οχι ο λαός τις κυβερνήσεις αλλά χωρίς τη δική σας βοήθεια μονη μου δεν μπορώ να το πετύχω

Οταν οι Αργεντίνοι υπέφεραν,εμείς ζούσαμε καλά εδώ,για δείτε πώς αντιμετώπισαν το θέμα! Τους φοβήθηκε όντως η κυβέρνηση.
Εμείς τί κάνουμε! Like στο Facebook & tweeting

Οι επαναστάσεις ξεκινούν απο το μυαλό και το στομάχι.
Το δεύτερο άδειασε,το πρώτο το χάσαμε κι αυτό;;;

From Bs As to Quito and from there to Athens

Buenos Aires to Athens: The Road to Perdition

Arturo C. Porzecanski

American University

April 2, 2012

Abstract:
Three sovereign defaults in the past decade have each inflicted losses of at least 70% on bondholders: Argentina, Ecuador, and now Greece. In each case, creditor rights and the rule of law were trampled, setting troubling precedents that are worrying investors involved in vulnerable European countries. In Argentina (in default since 2002), numerous arbitrary measures were taken that damaged the interests of investors; the debt relief that was demanded bore little relation to the country’s capacity to pay; and court judgments and arbitral awards against the sovereign have been routinely ignored. Ecuador (2008-2009) stands as the clearest example of sovereign unwillingness to pay. Investors were blindsided, bullied, and then sacrificed as part of a personal and ideological vendetta on President Correa’s part. Investor confidence in Greece was destroyed by persistently negative attitudes coming out of Berlin. The huge losses imposed on creditors were based on questionable estimates and judgments, and various troubling, expedient means were used to achieve the dubious ends. Chances are that the road to perdition for investors will soon be extended to some other capital in Europe.

Number of Pages in PDF File: 12

Keywords: Argentina, Ecuador, Greece, Debt, Default, Restructuring, Crisis
DOWNLOAD THE ARCHIVE

Ecuador and..

Dec 12 2008 4:25pm EDT
Ecuador’s Idiotic Default

In the annals of idiotic political decisions, today’s default by Ecuador has to rank pretty high. The country failed to pay a $30.6 million interest payment on its 2012 global bonds, despite the fact that it has $5.65 billion in cash reserves and debt service accounts for less than 1% of Ecuador’s GDP.

As a result, Ecuador’s economy will suffer greatly. The country is a major exporter, not only of oil, but also of such things as shrimp, bananas, and cut flowers; trying to get trade finance for any of that will now be all but impossible.

But those aren’t even the biggest reasons this default is so stupid.

This debt has already been restructured twice, and there’s zero chance that bondholders will agree to it being restructured a third time. They know that Ecuador has the ability to pay, and they don’t like being bullied.

Most importantly, they have leverage. Yesterday, Judge Thomas Griesa, of the Southern District Court in Manhattan, ordered the attachment of Argentine pension fund assets held in New York, on behalf of defaulted Argentine bondholders. It’s the latest move in a long legal game being played out between Argentina and its creditors, and the creditors are scoring a few minor victories these days.

They face, however a formidable adversary: Argentina was careful to repatriate all its attachable assets before it defaulted, and the only reason the pension funds got attached is that they weren’t nationalized at the time. Argentina also has seriously heavyweight legal representation, in the form of Cleary Gottlieb — which used to represent Ecuador, too, until Ecuador fired them earlier this year and denounced them as criminals.

Ecuador’s bonds are all issued under New York law, and the country needs a good New York law firm to defend itself. Unfortunately, it’s having to make do with Foley Hoag in Boston instead.

Even with Cleary, Ecuador would have had a hard time defending itself against well-funded antagonists such as Elliott Associates and Greylock Capital, who are expert at navigating the legal system. With Foley Hoag, it has no chance, for one big reason: Ecuador has dollarized. The dollar is the legal currency of Ecuador; there is no other. As a result, all of Ecuador’s assets, ultimately, are US assets.

Ecuador’s bondholders will vote to accelerate its debt very quickly. As a result, Ecuador won’t have to just pay its $30 million coupon payment any more: it will have to pay the full $510 million principal amount. And the chances are that the 2015s and 2030s will be accelerated too. What’s more, if it doesn’t pay up in full, its creditors will surely find a way to take the money anyway.

The only hope for Ecuador now — and it’s a slim one indeed — is that this whole thing has been engineered by people holding Ecuador’s credit default swaps, and that once they’ve been paid out, the government will quickly act to cure the default. (Incidentally, the single biggest writer of default protection on Ecuador is… Venezuela. You can be quite sure that the leftist solidarity between Rafael Correa and Hugo Chavez is no longer.)

If this default isn’t cured in a matter of days, Ecuador is going to lose billions of dollars it can ill afford to see go. Surely Correa knows this — and surely he knows, too, that whenever Latin American presidents announce a debt default, they rarely last long in office. Which makes this decision even more inexplicable. But there’s Ecuador for you: always bet against the country taking the logical and sensible course of action, and you’re likely to make a lot of money.

Read more: http://www.portfolio.com/views/blogs/market-movers/2008/12/12/ecuadors-idiotic-default#ixzz1wGnmaqJL
Source

Life after default

Argentina: Life after default
by Richard Lim

02 August 2010

The emergence of the Greek sovereign debt crisis in recent months serves as a powerful reminder of how far Argentina has come this decade. Argentina defaulted on sovereign debt (bonds issued by the Government) in 2002, which was followed by a period of intense economic, political and social turmoil. Argentina’s government debt was the largest default in international finance history at $132 billion US dollars. Its central bank currency was nearly wiped out during the crisis.

Many parallels can be drawn between the economic turmoil that Argentina has largely overcome this decade and the problems that are currently facing the Greek Government and its people. Social unrest has erupted in Greece. The latest round of demonstrations attracted over 50,000 protesters who vented their anger at the Government’s proposals to increase taxes, cut public sector pay and pensions while decimating public spending – many demanding that tax cheats and corrupt politicians be put on trial. A small group of protestors turned violent, throwing bottles at the police who responded by firing tear gas in what turned out to be the biggest protests since George Papandreou, Prime Minister, took office in October last year.

The trade-off for these brutal austerity measures is to receive backing from the European Union (EU) and the International Monetary Fund (IMF) which seems to have choked off Greek default for now, but question marks remain over the longevity of the euro.

Argentina saw four years of economic recession which led to the economic crisis of 2001/02. Argentina’s then-President, Fernando de la Rua, presided over the depegging of the peso to the U.S. dollar, draconian spending cuts and social unrest. Unemployment soared to over 19% and inflation rocketed as economic collapse poured millions of citizens into unexpected poverty. Domingo Cavallo, the economy minister of the time, introduced a raft of austerity measures that sparked widespread rioting which swept through the country as the people took to the streets to protest against the apparent collapse of the economy. As many as 20,000 people started looting shops in the capital, Buenos Aires, with many banks and restaurants being destroyed.

Fearing the worst, much of the population began a run on banks, trying to empty savings accounts, retirement accounts and liquidating assets in an attempt to salvage capital. Fernando de la Rua responded by freezing withdrawals from bank accounts with a series of measures called the “corralito” resulting in more civil unrest.

The number of people under the poverty line more than doubled in 2002 compared with pre-default levels and violent protests that year unseated five presidents. In nominal terms, it took over seven years for the economy to recover to pre-default levels and even now GDP per capita is still below 1998 peaks. Investment in Argentina dried up over night and essentially the country lost access to international capital markets as investors fled in fear. They deemed the risk of investment too high.

After eight long years, Argentina is proof that investors usually do forgive a country for defaulting. It will provide a valuable lesson on the immediate results of default if Greece does go down this road. The obvious benefit is the saving on the debt, but judging by Argentine experience, it will be followed by swift and horrifying economic collapse, accompanied by political chaos.

So for Greece, which runs a primary deficit of 8 percent of gross domestic product (GDP), a default would quickly lead to even more savage fiscal austerity. Moreover, a default will hit not only foreigners but also Greek banks, which holds around €45 billion of their government’s bonds – 10 percent of their assets. So far, the rescue package offered to Greece is in the region of €110 billion, which seems to have restored calm to the financial markets for now.

However, Argentina’s President, Cristina Fernandez, has criticised the bailout as repeating “the same recipes” applied to Argentina. Austerity imposed on Greece will have “terrible consequences on the economy … what they are trying to do is rescue the financial system”. There is a fundamental difference between the current Greek crisis and the past economic turmoil of Argentina – the single European currency. Whereas in Argentina when default was followed by a devaluation in the peso of around 70% which acted to boost exports, Greece lacks that option.

Like Greece, which is a weak economy stuck to a strong currency, one root of the Argentine debt crisis lay in its currency board which tied the peso to the dollar at parity. Once the peg was ditched the peso fell dramatically. Luckily for Argentina, it coincided with the global economic upturn that fuelled a boom in oil, metals and food prices, all of which helped Argentine exports. From 2003 to 2008, exports grew by 15-17% per year and contributed to GDP growth of, on average, 8% a year.

As Greece can not devalue its currency, the burden of adjustments can only fall on the fiscal side. There are very limited options available – savage tax rises and spending cuts, leave the euro or both.

Many argue that Greece would not benefit much by reverting to its old drachma currency as its exports are negligible. Tourism will gain to some extent but must still compete with cheap regional rivals such as Spain, Portugal and Turkey.

Argentina had a currency issue. Greece has been living off EU handouts, borrowing for two decades and concealing the true extent of its fiscal imbalances.

Argentina’s Recovery and Beyond

Following Argentina’s restructuring of outstanding defaulted debt in June 2010, it is set to finally emerge from “pariah” status in international capital markets. Fitch, a ratings agency, was the first to lift Argentina’s sovereign foreign-currency debt out of the “default” category. The upgrade in the ratings will make it easier for the government to issue new and external debt. Such issuance may still be tricky given the current environment in the eurozone and Argentina’s government is likely to continue to rely on domestic sources of finance for now.

Fitch’s decision on July 12th to remove the “RD” rating from Argentina’s long-term foreign-currency debt and to upgrade it to “B”, moving it out of the default category, reflects the completion in June of the swap of US$12.1bn in foreign debt for new securities. This represented 67% of the US$18.3bn in eligible outstanding defaulted debt. The acceptance rate was above the government’s target of 60% but below the initial market projection of 70-75%.

With the second restructuring out of the way, and with economic growth expected to be robust this year Argentina is believed to be in relatively good shape to meet both its financing requirement and its debt obligations over the next two years.

Argentina’s public debt has increased over the years to around 50% of GDP in 2009 from around 48% of GDP in 2008 and it still faces debt obligations of about $15 billion in 2010, most of which is due in the second half of the year. To avoid the crisis of the early 2000s, the government will need to find new financing to roll over their debt obligations if President Fernandez is to avoid using foreign currency reserves to pay debt. However, the continued usage of foreign exchange reserves is yet another risk.

Clearly, Argentina has come a long way since the economic crisis but there are still a number of risks to sustainable economic growth in the coming years. Political and economic stability will play a crucial role in delivering this success as the country draws closer to closing this chapter of its economic history.

Source: Read the comments please in South American music and culture magazine