Argentina’s Debt Crisis Will Outlive the Fernández Presidency

Fernandez de Kirchner, cc Expectativa Online

In the West, whether it is anxieties over ‘too-big-to-fail’ banks, the malign influence of lobbyists and campaign finance on the democratic process, or suspicions of backroom deals in free trade negotiations, the political narrative about corporations is often over how the unaccountable multinational corporation is using its economic, legal, and media muscle to thwart oversight of its activities by once-sovereign states. In Latin America it can often seem the opposite way around, where an over-mighty executive can fiddle politically inconvenient economic statistics, intimidate the media or unilaterally nationalise even a large foreign company’s assets. Argentina’s ongoing debt dispute recently entered its fourteenth year with elements of both.

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