“In the current scenario, in which the Supreme Court of Justice of Santa Fe has intervened and there could be the possibility of cram down –which is a debt solution proposal made by the main creditors, in this case the National Bank-, I said let’s study it because it is possible. What is not possible is this logic of ‘let’s expropriate companies in any way’ because later what does not correspond is paid. And I don’t want to do that”, stressed the President.
“Banco Nación is a privileged creditor and can be a determining factor in bankruptcy or continuity. Now, if we are guarantors of continuity, then we will put in place the conditions to make it possible”, he added.
Fernández said that at the time he decided to go back with the nationalization of Vicentin given the possibility that a decision in this regard “could force Argentines to pay a large debt, which was not reasonable.”
“I backed away from nationalization, but we are still working on the cramdown alternative and now there is a scenario where, perhaps, we can do something. I’m not saying I’m sure, but we do have a more favorable scenario than that one”, complete. According to Fernández, “the problem is that they turn Vicentin into an ideological problem. And it is not an ideological problem, it is a problem of opportunity”.
“I am convinced that what we have to guarantee is to put an end to these oligopolies, monopolies, and when these systems exist, as in the case of the 7 or 8 cereal companies that exist in Argentina, if the State had a cereal company that exports, we would have possibilities of intervention in favor of the market, in favor of the Argentines. But that does not have to be done in any way, ”he remarked.
Source: Ambito
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