The Argentine Model
April 17, 2012
Why not expel a thieving Buenos Aires from the G-20?
'I'm the head of state, not a thug," Argentine President Cristina Kirchner felt it necessary to explain on Monday in Buenos Aires. This is never a good sign from a politician.
And, sure enough, she was trying to defend her decision to nationalize the oil company YPF by expropriating 51% of the shares belonging to majority owner Repsol from Spain, an act the civilized world is calling "theft." Only Hugo Chávez applauded.
In modern Latin America, Brazil is a growing economic power, Mexico has developed a middle class, and Colombia, Chile and Peru have joined the world economy. Then there's Argentina, which seems intent on fulfilling all the political and economic stereotypes that have made that blessed land so much poorer than it should be.
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