You are hereArgentina: No to the renegotiation with Suez-Roggio!
Argentina: No to the renegotiation with Suez-Roggio!
Food & Water Watch
Citizens surrounded the legislature in Cordoba, Argentina on Wed. Nov. 29th shouting, "No to the re-negotiation!" referring to the new contract between the government and Suez-Roggio that would grant 27 more years of a repressive water privatization contract. (View photos below) Police retaliated with force leaving 30 wounded and 7 detained.
The contract would:
1. Grant pardon to Suez and the other shareholders for millions of dollars in debt. Suez owes millions in unpaid taxes and in fines for contractual non-compliance.
2. Grant new favors to Suez paying them subsidies of more than 25,000,000 pesos annually.
3. Uses blackmail by stating that Suez will discontinue their case in the World Bank's secret court (ICSID) where they are suing the Argentine government for US $100 million if the new contract is passed by the legislature.
4. Commits the province of Cordoba to pay off the US$40 million loan that Suez owes to the European Investment Bank for investments in the water system that were never made.
5. Ratification of this contract would approve increases in water rates beginning April 2007 to between 0.19 and 2.15 pesos per metre, and by January 2008 rate increases of 12% more granting Suez permission to impose increases at any percentage of costs.
View photos from Colectivo Indymedia Cordoba: http://argentina.indymedia.org/news/2006/11/467722.php