How Argentina's economy bounced back

Greece is looking for a financial way forward as it's PM visits Germany.

One country that has been through it all before is Argentina.

The South American country became the biggest economy ever to go bust 9 years ago.

Argentines are keenly aware of the similarities between the events taking place in their country and what is now happening in Greece: both countries deeply in debt, both with an uncompetitive economy.
But Argentina managed to bounce back, with exports sky rocketing, a booming tourism industry based on a devalued currency.

Al Jazeera's Lucia Newman reports from the capital Buenos Aires.

Category:

News & Politics

Tags:

• americasnews
• Al
• Jazeera
• Argentia
• financial
• crisis
• Greece

[Magenta408]

It's good that they told the IMF to go to hell!

[rickbar123]

Kill the neocons. Recovery will come faster.

[Pesles]

Bla bla DEFAULT IS BAD bla bla bla SOY!

[fabians21]

now in Argentina the 7.2 percent is poor, I think is better than in the crisis, wish it wuold be 0%

[VictimOfBoredom]

@delatroy I could have doubled my money six times over in plenty of bubbles, all of which had been growing for "years and years". Just because a market hasn't popped yet doesn't mean it's not a bubble.

[delatroy]

@VictimOfBoredom you are small minded. I don't care what happens in a day a week or a month, I care about years and years. Either you're trading or investing for the long term. If you bought 12 years ago.. you would have doubled your money six times over even with the recent correction. I would still buy gold today. You haven't a fucking clue what you're talking about. I'm sorry.

[VictimOfBoredom]

@delatroy *facepalm*

tinyurl (DOT) com/429nzwf

"Since Wednesday, amid intensifying fears about the eurozone debt crisis, the precious metal has tumbled as much as $270 an ounce to touch a low of $1,534.49 on Monday. After hitting a record high of $1,920 just three weeks ago, it has dropped 20 per cent."

It really is funny how idiots on YouTube keep making bullshit claims, and they usually go uncorrected because most other people on YouTube are too uneducated to know better to correct them.

[delatroy]

@VictimOfBoredom haha have you looked at a gold chart in the last 12 years?

[lordveider]

90% of that ppl in those slums are inmigrants from Paraguay and Bolivia. The Argentines have government subsidies; homes, education and free health

[VictimOfBoredom]

@Svenmist Well my original point was that America isn't experiencing inflation comparable to what Argentina experienced. I didn't mention Argentina, because it was already in the post I was responding to. I suppose this was a misunderstanding, then.