This site is for archive purposes. Please visit for latest updates
Go to Top

European Media Distort the Lessons of Argentina’s Crisis and Recovery

Mercille, J., (2013), “European Media Distort the Lessons of Argentina’s Crisis and Recovery”, Social Europe Journal, 07 Οκτωβρίου.

The European media have distorted the lessons of Argentina’s relatively successful response to its own economic crisis a decade ago, as newly published research documents in detail. This is not surprising, because the policies adopted by Buenos Aires were directly opposed to those currently favoured by European authorities, in particular the ECB and Germany.

Argentina defaulted on its debts, devalued its currency and extricated itself from a severe economic downturn. Over the decade following default, GDP grew by some 90 per cent in real terms. The lessons of the Argentinian experience for peripheral European countries in the current crisis have been noted by some analysts who have recommended that they seriously consider adopting some of the policies implemented by Buenos Aires, such as defaulting on their debts and ditching the euro. The latter surely involve significant risks, but may well be preferable to the current austerity packages that continue to devastate economies.

See also the relevant research paper:


Σχετικές Αναρτήσεις