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To: Frank Pembleton who wrote (92328)	7/16/2001 7:20:39 AM
From: Frank Pembleton	Read Replies (1) \| Respond to of 95453

...more on Argentina Will Argentina spill over? July has been a devastating one so far for equity markets. The Morgan Stanley Capital International World composite index has dropped by more than 2.2%, bringing cumulative losses for the year to about 9.5%. The MSCI Emerging Markets index has dropped close to 4%, due to significant market weakness in both central and eastern European countries and in Latin America. (July 16, 2001) nationalpost.com Dollarize Argentina, now For months now Argentina has been losing its defensive war with speculators and the financial markets. This wouldn't have surprised General Douglas MacArthur, who defined defensive warfare with one word: Defeat. Argentina's failed defensive strategy has put it in the grips of a financial panic. Many investors have liquidated their Argentine assets, forcing prices down. (July 14, 2001) nationalpost.com