Argentine banks

Daniel Davies dsquared at al-islam.com
Tue Nov 5 09:28:20 PST 2002


Brad wrote

>>The coup de grace was then delivered by the government's decision when the crisis came to keep bank deposits fixed in dollars and to change debts owed to banks into pesos, thus with one stroke of the pen bankrupting the country's financial system.<<

The Argentine financial system is not bankrupt, and just to prove it, you can buy shares in Banco Galicia if you want to. The "corralito" regime was accompanied by a complicated set of measures aimed at maintaining the capital of the banking system.

dd

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