From Populist Promises to Corporate Greed
Just when you thought Javier Milei’s libertarian circus couldn’t get any more grotesque, he’s pulled yet another trick out of his neoliberal playbook: privatising the Banco Nación, Argentina’s largest state-owned financial institution. With a stroke of his pen, Milei has effectively laid the groundwork for a corporate takeover of public assets, all while wrapping himself in the rhetoric of “economic freedom.”
What does this mean for Argentinians? Nothing short of a monumental disaster.
A Public Institution Turned Corporate Cash Cow
The Banco Nación has long served as a pillar of Argentina’s economy, providing accessible credit, financing small businesses, and stabilising the financial sector in times of crisis. Its transformation into a Sociedad Anónima (S.A.) is nothing less than a prelude to full-fledged privatisation, paving the way for foreign interests, private investors, and financial vultures to pick it apart for profit.
Milei, of course, frames this as an “efficiency” measure, arguing that it will improve Argentina’s financial system. But in reality, it follows the same old formula: strip public assets, sell them for scraps, and leave the people with nothing.
Who Benefits? Follow the Money
Let’s be clear: this is not about economic growth. This is about who profits from Milei’s agenda. The privatisation of Banco Nación is not a move to “modernise” the economy; it is a carefully orchestrated transfer of wealth from the public sector to the private elite—likely the same circles that Milei has been so keen to please since his rise to power.
The ones set to benefit are foreign banks, corporate conglomerates, and a handful of Argentinian elites who will see this privatisation as a golden opportunity to make a quick fortune. Meanwhile, the ordinary Argentine citizen will find loans harder to access, interest rates soaring, and financial services increasingly out of reach.
A Pattern of Economic Sabotage
This move fits neatly into Milei’s broader economic scorched-earth policy, where he:
- Slashes social services while handing tax breaks to the wealthy.
- Cuts public investment while pushing deregulation for corporations.
- Destroys workers’ protections in the name of “flexibility.”
- Now, sells off national institutions to the highest bidder.
Milei’s Argentina is quickly becoming a laboratory for disaster capitalism, where public goods are auctioned off, and economic stability is sacrificed on the altar of radical libertarian ideology.
Argentina for Sale—Who’s Next?
If this trend continues, what’s stopping Milei from selling off other state institutions? Will education, healthcare, and pensions be the next victims of his rabid privatisation drive?
For a man who pretends to despise political elites, Milei seems remarkably eager to serve the interests of corporate overlords. This isn’t “liberty”—it’s economic enslavement to the highest bidder.
The question remains: How long will the people of Argentina tolerate this betrayal..?
G.S.
