Buenos Aires Herald

Saturday, September 29, 2012

Former Economy Minister Domingo Cavallo assured that the country's current problems are much more serious, because nowadays "people are desperate because they want to preserve the value of their savings and the Government does not allow them to do so". He also said the cheque tax should only be applied in emergencies and also blasted the President’s speech in Harvard University.

“The current problem is much worse than that of 2001. At that time people bought dollars but in only one market, with total freedom. Thus, there was one value. No there’s no convertibility because people do not have the freedom to buy foreign currency. They are desperate because they want to preserve the value of their savings and they want to buy dollars, which the Government does not allow them to do,” Cavallo assured-

For full text of this article, visit http://www.buenosairesherald.com/article/112851/argentinas-current-problems-are-much-worse-than-those-of-2001-cavallo