19 Oktober 2007

IMF Washington: German Government bans Activist

Washington DC, 18.Oct. 2007: Long term activist Stefan Engelsberger who represents investors against Argentina and the IMF was banned by the German Government. Charles Gleichenhaus, Deputy Chief of Security took the ID and threw Dr. Engelsberger out of the building. Accusation: Engelsberger would have gone twice into Germans Executive Director´s office (Klaus D. Stein, Stephan von Stenglin). Engelsberger was denied to call an attorney to claim, that a visit in an office of his own Officials would comply with the rules. Gleichenhaus mentioned, that he hurried to take action, because Engelsberger planned to visit the CSO Townhall Meeting with IMF-boss de Rato and Worldbank Boss Zoellick.

Engelsberger is fighting for years to get justice. He has planned to inform German officials about a new proposal to change German civil procedure to make a solution for Argentines holdout problem possible.

This is the the statement, Dr. Engelsberger wanted to make at the IMF Townhall Meeting:


six years ago, the International Monetary Fund gave 21.57 billion Dollars to Argentina and reassured markets, that Argentina will be backed further. Suddenly by a press statement the IMF surprisingly announced, that it will not support Argentina anymore and stopped payments. Argentina declared default and hundreds of thousands of savers and bondholders worldwide lost their money. Argentina disagreed to negotiate in good faith but the IMF got its money back.

The IMF participated in the market as creditor and cheated citizens who trusted in the honesty of this multilateral authority. They did not know, that the IMF had early decided to let bondholders bleed unilaterally. They did not know, that the IMF was steered by people who felt not responsible for the needs and rights of other creditors.

Since the IMF can neither be sued nor taken into public responsibility, one can say, that the IMF is fascist. In Germany we have a bad experience with fascism. Hence we oppressed German investors will do everything to convince decision makers to finish this fascism regime. Multinationalism is dead. We need strong local, regional and national authorities which are committed to the people and do not hide in a black box. We welcome Venezuelas Banco del Sur and hope, that the IMF will be liquidated as soon as possible.

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