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The wrong lessons drawn from Mexico and Argentina


Mexico and Argentina at the end of the eighties, stabilized their currencies: in Mexico a generation of reformers stipulated Nafta with United States, the debt was resolved by Salinas thanks to negotiation of the titles Brady; in Argentina with the return to the currency board was eliminated inflation. In nineties Mexico devalued without respecting some rules and an escape of capitals was inevitable. The effect tequila extended to the whole world and in Argentina, despite few exchanges with Mexico: some funds were appropriated  to save them but recession was not avoided. “We have drawn wrong lessons because that funds are not found in way immediate and we would have had to understand that what happened to Mexico could happen everywhere, since the apparent success of an economy, the look admired of market and of the media don't guarantee that the economy is immune from sudden financial crisis”.
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