In the run-up to a hot classic against Estudiantes, the Gimnasia fans gave a warm welcome to a particular fan who tried to see the game as just another one: to the rhythm of “traitor”, “chorro” and other insults, Federico Sturzenegger was received at Bosque Stadium.
The author of the controversial omnibus law, which failed in the Deputies, and of the megaDNU, which is still in force with the exception of some sections that were prosecuted, was recognized as soon as he began to climb the stairs of the audience and the insults did not wait.
With shouts from all sides, the fans did not forgive the former president of the Central Bank of Mauricio Macri, and current architect of Javier Milei’s package of measures, for his constant subjugation against the most vulnerable sectors, advancing the rights of workers and citizens, to benefit a handful of corporations.
For this reason, among all the shouts that were shouted at Sturzenegger, one was heard repeatedly and with greater presence: “Give back everything you stole from us.”
Who is Sturzenegger: from the mega-swap, to the Lebacs and the omnibus law
Sturzenegger has a long history in neoliberal governments. At the end of 1994 he joined YPF, where he was chief economist until 1998, during the administration of José Estensoro, in the government of Carlos Menem.
From then on, until 2005, he directed the Business School at Di Tella University. In between, in 2001, he took a break to serve as Secretary of Economic Policy of the Alliance government.
Here, within the framework of what was the “IMF shield”, where the multilateral organization demanded a series of adjustment conditions in exchange for a credit of 40,000 million dollars, Sturzenegger announced the “zero deficit” and the blow of the 13th percent to salaries and pensions.
But, for the concentrated sectors, the announcements were different: it was marked by the so-called “mega-swap”, a bond exchange operation with the aim of delaying debt payment terms in exchange for a significant increase in interest and the amount of capital owed, and also, the payment of very high commissions to foreign banks.
After the social outbreak of 2001, Sturzenegger continued his work at Di Tella and in 2005 he went to teach at Harvard, in the United States. But in 2008, he left the North American institution to join Mauricio Macri’s team in CABA, as president of Banco Ciudad.
Since 2015 he was at the head of the BCRA, where he eliminated the exchange rate, created UVA mortgage loans (Purchasing Value Units) indexed to inflation, which generated great controversy over the years, and also devised the carry trade of the Central Bank Bills (Lebacs), which were later converted into the Liquidity Bills (Leliq), which were building the “ball” that Milei today seeks to “disarm.”
After, due to his mismanagement, he was replaced by Luis Caputo, current Minister of Economy, Sturzenegger went into the shadows and reappeared last year when, at that time close to Patricia Bullrich, he showed himself working on a mega law that ended up serving in tray to president Javier Milei.
An unemployed official in Milei’s government, he was the author of the omnibus law and the DNU, although the presidential advisor was in charge throughout the debate of avoiding attending to give explanations to Congress. Instead, he sought to belittle popular expressions, through television and radio interviews.
“I don’t know how they read the DNU so quickly and went out to protest,” he had said the night after the announcement of the megaDNU and the sending of the omnibus law to the thousands of citizens who, throughout the entire country, came out with their pots and pans to protest in the midst of such subjugation.
2024-02-26 14:19:06
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