Argentina's Two Economic Crises (80s, 90s)

Argentina is the Eastern neighbour of Chile in South America. The "AEC" took place in the late 1990s and is correlated with the decrease in real GDP in 1999 and return to growth in 2002. Origins of the crisis went back to the 70s and 80s, Argentina had acquired huge debt during the National Reorganization Process (1976-1983), where the country was ruled by la ultima junta militar, the money was spent on unfinished projects and the Falklands War. In 1983, Argentina became a democracy and created a new currency known as the austral, which required new loans. When the state became unable to pay interest on the debt, confidence in the currency collapsed. In July 1989, Argentine inflation reached 200%. Although unemployment did not increase, real wages halved. In 1991, a fixing of 10,000 australs to 1 USD was introduced. A condition to secure "convertibility" of the currency was for the Central Bank of Argentina to keep USD FX reserve at the same level as cash in circulation. The currency was then renamed the peso (Argentine peso) and the exchange rate was fixed in law. So drop in inflation and preservation in currency value resulted. However, in the 90s borrowing continued and another crisis resulted.

Neapolitan Ice Cream

Chocolate, vanilla and strawberry.

Preconditions for CIvilization

How did civilization emerge? Let us take the case of Mesopotamia. The soil of Mesopotamia led to a surplus of food. With a food surplus people could settle. As cities developed interactions between people developed. With an unpredictable food supply, civilization cannot flourish.

Primarni

The Primarni Effect
What's seen on the catwalk is replicated so quickly in stores. The term Primarni is giving a nod to the roots. primark or top shop.

One Country, Two systems

Diplomacy: Knowing how far you can go, how much the bridge will carry
realpolitik (ray-arl-politeek)

From: "Getting our Way"

Immortal Beloved (1994)

The life and love story of Ludwig van Beethoven. Vienna 1827. "If we could be united we would feel this pain no longer".

"he's a genius"
"but in the last year he has not played or published a single note"

Cool Magazines

What are your favourite magazines?

National Geographic Magazine - Mar2010 issue is on Wolf Wars.
Discover Magazine - running a feature on the technology of the Winter Olympics
Science et Vie
Scientific American
BBC Focus Magazine
Communications of the ACM
CNET TV