The Economist humiliates Argentina once more. Britain defeated Argentine forces in the Malvinas war, that is a fact, but the picture published today to represent Argentina (right) is another offense for the self-image of old Argentinians like me. We used to think of Argentina as a White, European country, and in my times, it was. I never saw a Bolivian indian from the Altiplano like the pictured in the streets of Buenos Aires. I could cry "Racism" but it would not be true because Argentina has undergone a population replacement in the last fifty years. The sons of the Italians and Spaniards in Buenos Aires migrated to Milan and Barcelona, the Jews moved to Miami and Israel. The Economist may have tried to reflect this objective reality.
Now to the subject matter in hand: Argentina once more imposed foreign currency controls and foreign firms cannot repatriate their investments. That makes idiots of those who believed in Argentina and invested in this country. Argentina's sovereign bonds now trade at a third of its face value. The Economist qualifies this situation as a humiliation for the IMF, but I would accuse Madame Legarde of having wasted American taxpayers' savings. She was booted upstairs and now manages the EU's finances. Decadence, everywhere I look.
No comments:
Post a Comment