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Very strange. None of these men are patriots, particularly the elected coward who resigned because of riots. 27 dead. We have riots bigger than that when the Pistons win in Detroit. You can't have elected Presidents resigning because of this. Look what has happened since then ... jeeze, even the Catholic church has been forced to point out the obvious, that anarchy will follow if SOMEONE doesn't stick around and try. Latin America! So close but so far ...

I wonder if they are accepting applicants. I promise I will only embezzle 5% of government revenues. I will also cut taxes( to a 5% sales tax) and sell off the state owned sector. Gambling drugs and prostituition( I may get flamed for this) will all be legalized in certain red light districts where they can't affect property values. Military expenditure will be reduced by requiring all who can afford it to have an automatic weapon. Those are my 1st acts anyway.

I did an economic and political analysis for Argentina last year saying that there was a reasonable chance of default on their debt. No surprise.

Essentially, they are a country controlled by labor unions (the Peronists). They have enormous burdens of social security and other subsidy programs. They do nothing to make Argentina competitive in the international arena, such as limiting union power. Hence, they are destined to fail.

Some poster mentioned that bankers are the problem. Not at all. They were willing to lend Argentina money, knowing that they may not get it back - hence, the interest rate is higher than what a AAA consumer is used to. The problem for Argentina, like the old Soviet Union, is where the money goes from the loans. A large percentage is skimmed towards political officials and Peronist party leaders. The middle class is folding because the wealthy loot the country and promise the poor and elderly massive entitlements. Hey, it sounds like the Democratic Party in the US!

Argentina is a classic example of the failure of socialism. Unlike Marx' view of utopian society, modern socialism is the destruction of a country by destroying the middle class. The poor get poorer (although they don't think so at first), the rich get richer (as law and order degenerate and you can't prosecute anyone - not even the President for lying under oath), and the middle class vanishes.