The National Times - Argentines protest Milei's economic reforms

Argentines protest Milei's economic reforms


Argentines protest Milei's economic reforms
Argentines protest Milei's economic reforms / Photo: © AFP

Thousands of Argentines took to the streets of Buenos Aires on Wednesday, clashing with police as they protested a decree of sweeping economic reform and deregulation published by President Javier Milei.

Change text size:

Marching at the behest of labor unions, the protesters demanded the courts intervene to invalidate the mega-decree they say would carve away at worker and consumer protections.

Congress is sitting in an extraordinary session this week, at the request of ultra-libertarian Milei -- in office since December 10 -- to consider the plan.

He sent a package of bills to give effect to his decree to parliament on Wednesday.

The decree would change or scrap more than 350 economic regulations in a country accustomed to heavy government intervention in the market.

Among others, it abolishes a price ceiling on rent, eliminates some worker protections and scraps laws shielding consumers from abusive price increases at a time annual inflation exceeds 160 percent and the poverty level has surpassed 40 percent.

A number of civic groups on Saturday filed a court motion to have the decree declared unconstitutional.

On Wednesday, protesters waved Argentine flags and placards reading: "The homeland is not for sale."

"We do not question the legitimacy of President Milei, but we want him to respect the division of powers. Workers need to defend their rights when there is an unconstitutionality," construction union leader Gerardo Martinez told reporters at the march.

- 'Chainsaw' state spending -

After the protest ended, small, scattered groups continued to confront police. Local media said seven people were arrested.

Milei's "chainsaw plan" to cut state spending has triggered a series of street protests against the government.

Other aspects of the decree include an end to automatic pension increases, restrictions on the right to strike, easing away from price caps for private health services, and the privatization of some public companies.

It also terminates some 7,000 civil service contracts.

Unless both houses of Congress scrap the plan in its entirety, the decree will enter into force on Friday.

Milei's far-right party, Freedom Advances, has 40 seats in the 257-member lower house of parliament and seven senators out of 72.

"The decree is destructive of all labor rights," said 45-year-old teacher Martin Lucero, who took part in the protest.

"The Argentine people chose Milei as president of the nation, not as emperor," he added.

The 53-year-old self-described "anarcho-capitalist" has targeted spending cuts equivalent to five percent of gross domestic product.

Shortly after taking office, his administration devalued Argentina's peso by more than 50 percent, and announced huge cuts in generous state subsidies of fuel and transport from January.

Milei has also announced a halt to all new public construction projects and a year-long suspension of state advertising.

W.Phillips--TNT

Featured

South Korea completes trial of Arctic shipping route

A South Korean container ship returned on Sunday from a trial voyage through the Arctic, testing an alternative route opened by melting sea ice as conflict in the Middle East disrupts global shipping.

アレックス・ボディ、CRIFとともに透明性の高い投資と徹底した資金洗浄防止に注力

ルーマニアの実業家アレックス・ボディは、現在進めている国際的な投資・成長計画において、資金洗浄防止を明確な重点課題に据えている。CRIFとの契約に基づく協力は、顧客、取引先、企業間の関係を調査するための確かな基盤を築くことを目的としている。最優先の目標は、それぞれに適用される資金洗浄防止(AML)規制を継続的に遵守し、それによって、回避可能な法的・財務的リスクや信用毀損のリスクから自身の事業を守ることである。

Ο ALEX BODI δίνει έμφαση, σε συνεργασία με την CRIF, στις διαφανείς επενδύσεις και στη συστηματική πρόληψη της νομιμοποίησης εσόδων από παράνομες δραστηριότητες

Ο Ρουμάνος επιχειρηματίας Alex Bodi συνδυάζει τα τρέχοντα διεθνή επενδυτικά και αναπτυξιακά του σχέδια με ιδιαίτερη έμφαση στην πρόληψη της νομιμοποίησης εσόδων από παράνομες δραστηριότητες. Η συμβατική συνεργασία με την CRIF αποσκοπεί στη δημιουργία μιας στέρεης βάσης για τον έλεγχο πελατών, επιχειρηματικών εταίρων και εταιρικών διασυνδέσεων. Πρωταρχικός στόχος είναι η διαρκής συμμόρφωση με τις εκάστοτε ισχύουσες διατάξεις για την καταπολέμηση της νομιμοποίησης εσόδων από παράνομες δραστηριότητες (AML) — και, κατ’ επέκταση, η προστασία των επιχειρηματικών του έργων από νομικούς και χρηματοοικονομικούς κινδύνους, καθώς και από κινδύνους για τη φήμη τους, οι οποίοι μπορούν να αποφευχθούν.

ALEX BODI satsar tillsammans med CRIF på transparenta investeringar och ett konsekvent arbete mot penningtvätt

Den rumänske entreprenören Alex Bodi förenar sina aktuella internationella investerings- och tillväxtplaner med ett uttalat fokus på att förebygga penningtvätt. Det avtalsbaserade samarbetet med CRIF ska skapa en stabil grund för granskning av kunder, affärspartner och företagskopplingar. Det främsta målet är att fortlöpande säkerställa efterlevnaden av de vid var tid gällande reglerna mot penningtvätt – och därmed skydda hans affärsprojekt mot rättsliga och finansiella risker samt anseenderisker som kan undvikas.

Change text size: