To: TobagoJack who wrote (61472 ) 2/24/2010 12:50:24 PM From: elmatador Respond to of 217716 Why capital is flying: populaces raise, government will appease buying social peace with confiscated money. "It's a war against workers and we will answer with war, with constant struggles until this policy is overturned," said Christos Katsiotis, a representative of a communist-party affiliated labor union. Note Argentina 2008: "...privately run retirement accounts will come in handy for the Argentine government as it struggles to "find new sources of funding for the government since the global financial crisis complicated efforts to renegotiate $20 billion in defaulted bonds and pay off abut $6.7 billion owed to the Paris Club group of creditors," reported Bloomberg News."See also Argentina's Revolt by Tom Lewis International Socialist Review, January / February 2002 Workers in Argentina overthrew the government of President Fernando de la Rua in a mass revolt December 19-20. The protests, as well as sharp conflicts within the Argentine ruling class, initially hampered the opposition's effort to create a new government. Despite the confusion, one certainty jumped to the fore: A week of popular upheavals, marked by the government's violent but unsuccessful attempts at repression, had ended the austerity regime of economy minister Domingo Cavallo and challenged the International Monetary Fund's stranglehold over Argentine society. Argentina: Congress grants Cavallo emergency powers Wall Street's man in charge By Bill Vann 28 March 2001 After nearly three years of recession and facing a desperate foreign debt crisis, Argentina's Congress has voted to grant emergency powers to Domingo Cavallo, the newly installed economy minister and author of previous economic plans that plunged the country into a downward spiral of poverty, unemployment and homelessness.