DistantNews
Support us
🇦🇷 Argentina /Conflict & Security

Sturzenegger fires back at industrialists and attacks port pilots in profanity-laced speech

From La Nación · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Argentine Deregulation Minister Federico Sturzenegger defended President Javier Milei’s economic policies at the annual IAEF convention.
  • He argued that lower public spending, rather than state stimulus, should support consumption and credit, and said the government had carried out 17,000 deregulations.
  • Sturzenegger also criticized port pilots during a broader attack on privileges and business complaints about Argentina’s costs.

Federico Sturzenegger took aim at Argentina’s industrial leaders and port pilots in a forceful speech at the annual convention of the Argentine Institute of Finance Executives, or IAEF.

The minister of Deregulation and State Transformation said Peronism had made its intentions clear: “I think Peronism has already said what they want to do: either they want to fire Santiago Bausili or they want to expropriate everything.” He was referring to the president of the Central Bank and to broader political opposition to the government.

I think Peronism has already said what they want to do: either they want to fire Santiago Bausili or they want to expropriate everything.

· Federico SturzeneggerThe minister opened his speech by criticizing Peronist opposition to the government.

Sturzenegger addressed criticism from Martín Rappallini, head of the Argentine Industrial Union, while stressing that the two men had an excellent relationship and had worked together on the Council of May and on a labor reform bill. He said the government viewed the country’s economic problems differently from its critics.

The state does nothing. The only thing it does is manage other people's money; it creates nothing.

· Federico SturzeneggerHe rejected calls for government measures to stimulate consumption.

On economic activity, Sturzenegger said Javier Milei would complete his presidency with an economy 20% larger than when he took office, while acknowledging that growth had not reached everyone equally. He rejected calls for the state to stimulate consumption, arguing that public spending simply transfers money rather than creating it. The government’s approach, he said, was to reduce spending and return resources to the private sector.

He made a similar argument about credit, saying subsidized financing required money to be taken from elsewhere. Greater lending, he said, depended on higher savings, economic stability and lower public spending. Sturzenegger also cited 17,000 deregulations and described the government’s work as searching through legal and regulatory systems for privileges. He ended by comparing port pilots to “the purest example of the caste” and used profane imagery to describe the mess involved in confronting entrenched interests.

The purest example of the caste.

· Federico SturzeneggerHe used the phrase while criticizing port pilots during his discussion of business complaints.
About this summary

Originally published by La Nación in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog