Argentina: We Can Go Home

For the first time in ages, Argentines could talk politics—and smile about it. At last they had an election—and perhaps soon, a bona fide President: Dr. Arturo Umberto Illía, 62, a sometime physician and longtime politico with considerable government experience. On the Buenos Aires Stock Exchange, shares surged upward; the battered peso rallied four points (from 139 to 135 to the dollar), and throughout the country the sensation was one of deep relief and a return of confidence. Even the fractious military seemed content. "We kept our promise to hold elections," said...

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