ARGENTINA: Inflexible Austerity

'Inflexible Austerity' For six years, under the fumbling administration of Juan and Eva PerÓon, Argentina's historically rich economy has been running down like a much-abused mechanical toy. While the inner clockworks gradually fell apart, Peron's method of dealing with the problem was to shout down all warnings at the top of his voice; only three months ago he looked a group of visiting U.S. Congressmen straight in the eye and told them: "From the economic point of view, Argentina has absolutely no problems."

Time for Sacrifices. Argentina has many. One of the world's great agricultural countries, it now finds itself...

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