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Argentina Senate Votes to Grant President Emergency Economic Powers.
Publication: The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News) Publication Date: 30-MAR-01 |
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COPYRIGHT 2001 The Miami Herald
Byline: Andres Oppenheimer
Mar. 30--BUENOS AIRES--In what is widely seen here as President Fernando De La Rua's last chance to put an end to Argentina's financial and political crisis, the Senate early Thursday voted to grant his government extraordinary powers to restructure the economy.
But while the 50-4 Senate vote generated some optimism that newly-appointed economy minister Domingo Cavallo will be able to get this country out of what he called its "depression" in a matter of weeks, the emergency powers' law contained so many contradictory clauses that few analysts have yet figured it out.
Cavallo, the Harvard-trained economist who rescued this country from hyperinflation in 1991 by pegging the Argentine peso to the U.S. dollar, has become a virtual prime minister since...
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