Thursday, May 17, 2012

Torrontes: IMF, Tango & Sovereign Currency



Well, regular readers will recognise this wine as I have blogged about it before. That was when I was chatting with my friend on the state of our NHS.

We may indeed be thankful that Argentina defied the might of the IMF, unpegged its currency which initially devalued to 25% of its original US$ value and even today it is still hovering around the 33% mark, thereby averting major internal unrest. It may indeed be a good object lesson for Greece and perhaps soon enough, Spain, Italy and Portugal.

I won’t even go into Iceland.

For wine drinkers, that we can be enjoying such a wonderful white wine at a mere $8 in Central America or $12 in the US and £8 in the UK must be an object lesson in the need to keep your own sovereign currency. Do you think I would be writing this if it is £32: the white burgundy territory!

By all accounts, Argentina is doing very nicely, Mr IMF or is it Ms IMF now. Thank, but no thanks.

We have our Tango, our Malbec and now Torrontes.
 © 2010 Am Ang Zhang

Well, if you come across Crios, give it a go.


Peach, melon, citrus and full body for a wine with such fragrance and still dry and goes well with crab, shrimp and most Chinese dishes.

Last year alone over a quarter million cases were exported to the US alone.

I have tasted a few and Crios is by far the best.

4 comments:

drphilyerboots said...

Dear CC,

I saw Crios at Majestic so got a couple of bottles. Suited to a summer barbie, and also to oriental food, I agree. Not up to white burvundy for subtlety, but not bad value. Some excellent New Zealand Sauvignion blanc on sale at present also.

Cheers!

Dr Phil

Cockroach Catcher said...

Hey, what Burgundy can you get for 7.99 UKP. In fact my Crios was only 7.99 USD. Wait till they put a minimum Alcohol Unit tag. I will move back to HK where wines now attract 0% tax. (from a high of 80%) Thanks, Boots.

drphilyerboots said...

Majestic have a few white burgundies at that price, but I find that you need to spend rather more to get a good one. At that pricepoint I would go for something like this: http://www.majestic.co.uk/find/product-is-05220

Good with asian food and fish.

Australian and New Zealand wines are getting expensive now due to exchange rate movements.

The Argentinian default was hardly painless, the debt defaulted on was the retirement savings of both Argentinian and other nationals, particularly in Spain and Italy. Argentina is growing at present, but will not be able to borrow at good rates in the future. There is no painless way out of debt, merely a matter of who suffers and where.

http://www.economist.com/node/21533453

Boots

Cockroach Catcher said...

I think it was painful for some and the rich as always moved their money out. Iceland too! The Greeks have done that as well. Many are in Australia.

I have a soft spot for Meursault and have stayed there a couple of times.

Thanks for the tip.

To me, the Greek Euro may itself devalue. It is possible.