It’s a bad day to be banking in Buenos Aires. The new president is announcing an economic plan designed to save the country from political and financial collapse. But, while the plan will make many economists happy, it is also likely to wipe out 30, perhaps 40 percent of the savings of many Argentines. Over the past month, people across that country have rioted over less. Argentina, once the economic pride of Latin America, is undergoing political upheaval and potential chaos.
More than 50 years ago, Juan Domingo Peron came to power by rallying the descamisados, the poor shirtless ones. Today, the new president, Eduardo Duhalde, will try to convince another generation that there’s a way to keep people from losing their shirts again.
Guests:
Ian Vasquez, Director of the Project on Global Economic Liberty at the Cato Institute
Thomas Catan, reporter for the Financial Times
Paul Bluestein, reporter for the Washington Post
and Steven Levitsky, Assistant Professor of Government at Harvard University.