Business Moves in Congress 2012
Central Bank reform, progress in Parliament. At issue, a touch retrospective. Modifications to the original, one that courted controversy and provide for more. The debate comes to agree spaces. The transfer of subway and groups. A project that appeals to federalism. Challenges macrismo and the rest of the opposition. The transport system, a larger problem. The Chamber of Deputies discussed in the exhibition the draft amendment to the charter of the Central Bank (BCRA). In turn, the senators addressed in committee official project of the surprise transfer to the Autonomous City, by law, the subways and the services of several bus lines. For those who love statistics on these topics, go a prediction: This year Congress will have a lot of activity, will meet regularly, sanctioned many laws. After the 2009 elections, which left a relatively uniform composition between ruling and opposition (to dump it if it added up all the fragments), who had prophesied a golden age of parliament. Parity, however, pushed to other outcome: the tie fool, cross barriers. This happened, for exclusive surprise of the unsuspecting.
With a strict and most polished background, the Front for Victory (FPV) is preparing to take advantage of the legitimate sovereign popular will, which is what wins the pews. Our constitutional system to be renewed every two years half of the deputies and a third of the senators. The mechanism dampens the effects of a plebiscite election like 2011. The bench ruling reflects the wealth of the vote and reduced crop of 2009. It is enough to impose its proposals, if not suffer defections or indents and 2008.
Central reform is a paradigm shift, which in substance only rebate "by right". The design is still in force was passed in 1992 in the furor neoconservative global savagery exacerbated here by the Menem administration. The informant was the Salta member Juan Carlos Romero (who was also governor of his province), who sincere vision. One thing he said, is money (which must preserve an autonomous central bank, reportedly split from the political power) and one credit is achieved via the capital market. The indiscriminate opening to financial capital, one of the causes of the crisis quasi-terminal end of the century, there was his flag and his exaltation. Such was the climate of the time, so skewed to the right that there was a minority project to remove the Central Bank. In 2001 there were those who propose to deliver the management of the local economy to international organizations, a foretaste of what is happening today in Greece, under the congratulations of financial and political establishment of Europe and moved against the people, who populate the streets of protesters and people recently laid off. In Spain they go for it, subjugating labor rights viciously tenacious. The First World is complicated: the center resigned identity and principles, center-right are getting. The proposal to amend the Charter fits in the best sense, a global trend. Central Bank reserves are assets of the Argentines, accumulated through their effort. Escindirlas the rest of the national resources and leave them at the mercy of technocrats with no votes cast is nonsense, undemocratic if you look carefully.
From the economic point of view, expand the Bank's objectives, which must look beyond the narrow (but not ridiculous or insignificant) looks at inflation control. It is sensible to propose broader goals. As much as reserves to pay debt incurred by the State, mainly under the influence of other governments (later reduced tenacious negotiation and honored by the current).
The Central Bank president, Mercedes Marco del Pont, defended the change of position, responding with generosity and good tone questions from opposition deputies. Its aim was to cover the articles, but support a new era. The text of the rule is only partially corrected the next day, when it came in commissions. Have changed, some suggested by the opposition to commit to publishing and disseminating monetary, credit and exchange. And also add to the "employment" as one of the objectives of the Bank operates. No such changes were positive, which angered the opposition benches. Yes that is numerically expand the power of the Bank to finance the national treasury. Was accused of mendacious Marco del Pont, having saved a card up his sleeve. The criticism does not hold: the project has no secret clauses or closed to the dispute. All its content is open to debate, which began on the same committee, will continue in the full House and then have the same journey in the Senate. What did happen is that the government decided, at the last minute to extend the quantum authorized to finance the national treasury. It is a percentage of tax revenue is allowed (for transitional clause) duplicate. The basic argument is that the mechanism is procyclical: you can pay more tax in good times. And that is more functional to have a spring to assist the Treasury, discretion countercyclical: when their coffers are not as piponas. The general idea is suggestive and provides that only can be appealed to the extension in exceptional circumstances. The assailable flank of the proposal is not defined or conditioned in any way exceptional. At the highest levels of the Executive and the benches of the FPV is assumed the bankruptcy and sotto voce hints that it might touch up the final text. It would be a way to improve it, its realization will depend on some of the official opening of blame opponents and their decision to seek an agreement, not be made for the maximalist for themselves and for the political system, unfortunate and unproductive stage of Group A.
0 comments:
Post a Comment