Argentina's deputy economy minister is "fiery red Marxist"

Argentina's decision to nationalize oil and gas giant YPF has brought the country's Deputy Economy Minister Axel Kicillof into the focus of global attention. In Argentina, Kicillof is praised as an economist who stays away from the pillars of the globalization in the 21st century, fervently defending his belief that his country must find its own path of development. Argentina's deputy economy minister is "fiery red Marxist" This former leader of the youth branch of the Peronist party - associated with the president's son Maxim Kirchner - advocates local investments. He is considered "the architect of the concept of salvation of Argentina from trans-national groups", which, he says, "do not think about Argentine workers". Some analysts, on the other hand, describe Kicillof as "a fiery red Marxist", who threatens private investments, while others suggest that his impulsive nature and lack of political experience could lead to a clash with President Cristina Kirchner and his ultimate fate of "a scapegoat". For the moment, however, Kirshner is singing his praises. The deputy minister is part of a small circle of advisers, who was seen fervently convincing Argentina's Congress that "only morons" played by the rules of Spain's Repsol - the company that until recently controlled YPF. A supporter of British economist John Maynard Keynes' teachings about intervention of governments in stimulating economic growth in times of crisis, Kicillof assured the senators that the expansion of Argentina, the second largest Latin American economy, lies in government policies. "When there is a deep crisis, the worst thing is to think that the state is bad, that it is the problem. The state is the solution. In times of recession and economic crisis, the state becomes a key player in restoring demand and production," said Kicillof. In 2009, he appeared as a key figure in the nationalization of Argentina's air carrier, also controlled by the Spanish at the time. Since Kicillof assumed a prominent place in creating Argentina's economic policies, the country increased import restrictions, enabled the government greater access to reserves, and limited access to foreign currency. Axel Kicillof (Vecernje Novosti, file) Vecernje novosti

Argentina's deputy economy minister is "fiery red Marxist"

This former leader of the youth branch of the Peronist party - associated with the president's son Maxim Kirchner - advocates local investments. He is considered "the architect of the concept of salvation of Argentina from trans-national groups", which, he says, "do not think about Argentine workers".

Some analysts, on the other hand, describe Kicillof as "a fiery red Marxist", who threatens private investments, while others suggest that his impulsive nature and lack of political experience could lead to a clash with President Cristina Kirchner and his ultimate fate of "a scapegoat".

For the moment, however, Kirshner is singing his praises. The deputy minister is part of a small circle of advisers, who was seen fervently convincing Argentina's Congress that "only morons" played by the rules of Spain's Repsol - the company that until recently controlled YPF.

A supporter of British economist John Maynard Keynes' teachings about intervention of governments in stimulating economic growth in times of crisis, Kicillof assured the senators that the expansion of Argentina, the second largest Latin American economy, lies in government policies.

"When there is a deep crisis, the worst thing is to think that the state is bad, that it is the problem. The state is the solution. In times of recession and economic crisis, the state becomes a key player in restoring demand and production," said Kicillof.

In 2009, he appeared as a key figure in the nationalization of Argentina's air carrier, also controlled by the Spanish at the time.

Since Kicillof assumed a prominent place in creating Argentina's economic policies, the country increased import restrictions, enabled the government greater access to reserves, and limited access to foreign currency.