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To: Lucretius who wrote (114745)7/27/2001 10:43:54 AM
From: hdl  Respond to of 436258
 
OT-I'll take China, Argentine, German, Finn,Thai if she blows. NG



To: Lucretius who wrote (114745)7/27/2001 12:38:13 PM
From: Don Lloyd  Respond to of 436258
 
l -

quote.bloomberg.com

"Top Financial News


07/27 11:18
Buenos Aires Invents a Currency, the Patacon, to Help Pay Bills
By Joshua Schneyer and Eliana Raszewski

Buenos Aires, July 27 (Bloomberg) -- Buenos Aires, Argentina's most populated province, has resorted to printing its own currency to settle its bills.

Governor Carlos Ruckauf has ordered the provincial mint to print a new bill to pay part of his workers' paychecks. The $500 million of new notes will also pay interest of 7 percent when the government redeems them in a year's time.

For those who want to spend them ``they'll be accepted just like pesos,'' he said.

Not everyone shares Ruckauf's optimism. Grocery stores such as Coto Cicsa, Argentina's No. 3 supermarket chain, and electric utility Edenor SA said they wouldn't yet accept the patacon, as the new currency is called...."

Regards, Don