Following the re-nationalization of Argentina's flag airline carrier in 2008, President Cristina Fernandez announced plans to expropriate YPF and thereby proceed with her late husband's turn from the rampant privatizations of the 80s and 90s. This is yet another example of the change of course operating in many Latin American countries, where the state is increasingly taking hold of key industries. Hopefully, this move will bring back jobs to strategic economic sectors and boost state revenue. Europe, and especially its peripheric countries, should take heed.
For those interested, below is Memoria del Saqueo, a documentary by Fernando Solanas that focuses on the economic downturn of Argentina from the end of dictatorship in 1983 until Néstor Kirchner's rise to power in 2003 (hat tip to Nuno Teles). Sorry, but no English subtitles...
No comments:
Post a Comment