Alberto Fernández spoke of Vicentín: "There is a favorable scenario for intervention"

President Alberto Fernandez Manifested in favor of the possibility that the State has “a witness company to order the market” in the food fieldand said that the decision of the Supreme Court of Justice of Santa Fe to displace the judge of the Vicentin creditor contest allows to have “a more favorable scenario” than the one that existed at the beginning of the process.

“A witness company that the market orders you is not something minor (…) We in food matters have to do something that allows us in some way to intervene to order these things. It is not about the National Grain Board, but about looking for more tools. At the time, I ruled out the alternative (to nationalize) Vicentin. At that moment, I said I discarded it, because it was doing the creditors a favor, not Argentina.”, said the head of state in an interview with Page 12.

“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 Banco Nación), 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,” the president stressed.

“Banco Nación is a privileged creditor and can be decisive for bankruptcy or continuity. Now, if we are guarantors of continuity, then we will put in place the conditions to make it possible”, he added. and he said that At the time, he decided to go back with the nationalization of Vicentin in the face of 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 continue to work 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“, complete. According to him “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 end 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 intervening in favor of the market, in favor of the Argentines. But that does not have to be done in any way, ”she remarked.

On the other hand, when asked about food prices and inflation, Fernández acknowledged that “the problem exists, I don’t pretend to be distracted and I accept reality. (…) The INDEC says what it says, I accept it and work every day to solve it in a scenario of enormous complexity and in an internal scenario where there are few who supportively say: ‘we are going to help fix things’ . As a Peronist that I am, I consider that no one is fulfilled in a community that not all are fulfilled. And they aim to ensure that Argentine society is not fulfilled, ”he said.

Even so, he said that “there are businessmen who earn too much and make people suffer” and that “we must find a way for all of us to commit to implementing an exception mechanism that allows us to get around this moment.” “The mechanism has to be to seek consensus. We are in a war, they are earning too much and that makes people suffer. I don’t want them to lose, but let’s put a limit on their utility, selling the product at a price that ensures that the final consumer doesn’t lose as much”, added the president.

I see that the dialogue does not work, but the pricing systems do not work either. The two things are trues. In Argentina there are two presidents who applied the Supply Law: Perón and myself. I have applied fines left and right, and the increases have not stopped. The mechanism has to be to seek consensus”, he stressed. And he assured that although “the government is doing a lot” to be able to stop inflation, “what happens is that the tools are not enough.”

“There is a structural problem in Argentina, which has developed over the years. It is not a question of today. That in Argentina there is a large dairy company, which concentrates a lot of the dairy market, is the consequence of the fact that there was a time when 27 thousand dairy farms were closed in Argentina. The result is concentration. And that milk is irrationally moved hundreds of kilometers from where it is produced, to where it is pasteurized and then to where it is consumed, is irrational”, Fernández concluded.

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