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Argentina: Making The Euro Zone Look Good



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Four from Reuters:

The first:

BUENOS AIRES, July 5 (Reuters) – Argentina’s central bank on Thursday formally banned people from buying dollars for the purpose of saving them, confirming the government’s de facto policy aimed at safeguarding foreign reserves.

The second:

BUENOS AIRES, July 6 (Reuters) – A cash crunch in Argentina’s biggest province, Buenos Aires, is driving bond yields higher due to increasing investor doubts about the local government’s ability to pay its debts as ties with President Cristina Fernandez sour.

The third:

BUENOS AIRES, July 5 (Reuters) – Argentine banks must offer to lend companies 15 billion pesos ($3.3 billion) by the end of the year at rates well below private inflation estimates, a central bank statement said on Thursday.

The fourth:

Mexico has withdrawn a zero-tariff agreement with Argentina on autos in a tit-for-tat trade dispute after the Argentine government’s decision to pull out of an auto trade pact between the two countries.

This will not end well.



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