Patacón, ¿Eurolandia lo mira con cariño?

Jajajajajajajajajajajajajajajajajajajaja;……..

Jajajajajajajajajajja, hip,…

IN AUGUST 2001, a few months before Argentina was forced to cut its exchange-rate ties with the dollar, the province of Buenos Aires in Argentina hurriedly issued $90m of IOUs to its employees as part of their pay packets. These bills, known as patacones, allowed the local government to bridge the gap between its revenues and outgoings. They were issued in small denominations and were soon widely accepted in exchange for goods and services. McDonalds even offered a special “Patacombo” menu in exchange for a $5 denomination IOU.

That episode casts light on the debate about the possible break-up of the euro zone. One of the arguments made against the likelihood of such an event is that it would be too costly for any leaver to invent a new currency from scratch. But the experience in Argentina shows that a wilful government (in this case a provincial one) is well able to improvise swiftly if financial pressures dictate. It is not so hard to imagine that Greece or Ireland, faced with punitive interest rates, massive budget deficits, a high real exchange rate, and social unrest might be tempted to go rogue in the way Buenos Aires did.

As we outline in a piece in this week’s print edition, there are steps a government could take to quit the euro if it was prepared to live with the consequences. The financial carnage that would ensue might not seem so scary to countries that are already cut off from market finance, threatened with default, and at risk of bank runs within the supposedly safe confines of the euro. The pain from Argentina’s abandonment of its currency peg was mostly felt in Argentina itself. But should a country choose to leave the euro, the repercussions would be felt across the region. The cross-border exposure of euro-zone countries to each others’ debts is enormous. The cost of break-up would be huge. But just because something shouldn’t happen, doesn’t mean it won’t.

http://www.economist.com/blogs/freeexchange/2010/12/euro_zone

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Economía Argentina, y su Arma Secreta para superar la Crisis Global.

Lunes 9 de Febrero de 2009.

http://deshonestidadintelectual.blogspot.com/2009/02/economia-argentina-y-su-arma-secreta.html

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Patacones, la respuesta es Patacones.

Miércoles 4 de febrero del 2009.

http://deshonestidadintelectual.blogspot.com/2009/02/patacones-la-respuesta-es-patacones.html

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Schwarzenegger, reclutaría una Task Force en la Argentina.

Lunes 23 de Febrero del 2009.

http://deshonestidadintelectual.blogspot.com/2009/02/schwarzenegger-reclutaria-una-task.html

Jajajajajja, hip,….Jijijijijijijijijiji.

PD; Un recuerdo para Rucucu, el padre no reconocido del Patacón.