Economy

Grexit: the false good example Argentine

argentine 2001 crisis

In 2001, many Argentine stores (here, at a total liquidation) had been forced to close their doors Photo credit:. Diego Giudice / AP

The crisis in Argentina in December 2001 has similarities with the Greek case but the failure to pay the South American country has been overcome in a very different economic and political environment.

An abysmal debt, closed bank counters and a people crying enough to austerity policies … Greek tragedy reminds many memories in Argentina. In the press, on TV, the country day after day following the European series. “The Greek people saw what we experienced in 2001,” has even exclaimed President Cristina Kirchner on the public channel, before greeting the victory in the referendum and tackle international creditors. Identical, the crises in the two countries are not exactly but the Argentine precedent gives a foretaste of what might live in Greece.

In December 2001, the Argentine debt hit a new record . In the humidity of the southern summer, a …

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