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European Salon de News, Discussion et Klatsch - 6 February | 83 comments (83 topical, 0 editorial, 0 hidden)

Under President Néstor Kirchner, Argentina stopped paying interests (nnegotiating a reschedule of debts) and imposed capital controls to prevent further capital flight. In essence, they turned the tables on the IMF and foreign investors. See Argentine debt restructuring - Wikipedia.

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Sat Feb 6th, 2010 at 03:40:36 AM EST
[ Parent ]

Re: Economy (none / 0)

So is it better to default or to play wage slave? Do you think Argentina did the right thing?

by njh on Sat Feb 6th, 2010 at 05:26:16 AM EST
[ Parent ]

Re: Economy (none / 0)

Wage slave -- you meant debt slave? If so, I think Argentina did the right thing, but could have done more earlier (before Kirchner was elected): preventing the bulk of the capital flight the way Malaysia did during the Asian Crisis of 1998.

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Sat Feb 6th, 2010 at 06:56:06 AM EST
[ Parent ]

Re: Economy (none / 0)

Is there a qualitative difference between debt slave and wage slave?

by njh on Sun Feb 7th, 2010 at 11:46:40 PM EST
[ Parent ]

European Salon de News, Discussion et Klatsch - 6 February | 83 comments (83 topical, 0 editorial, 0 hidden)

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