Over the Brink
Who can bring Argentina back from crippling debt?
Argentina has a debt of 150 billion USD, and the banks have closed. The people are furious, the poor are suffering, and the next presidential election is up and coming too.
In Buenos Aires, the streets are crammed with cheering people. Yet this is no joyous Latin American street party. This middle-class crowd is calling for popular revolt; the downfall of the government, if not the entire system. Close by, the less educated classes scavenge in rubbish bags for food or paper to sell for recycling. In a country with a debt of 150 billion USD, it's estimated that 50,000 Argentinians now live this way. In La Rioja province, there's one man for whom Argentina's gross debt doesn't seem to be a problem. Producing wine from his private vineyard, the life of former president Carlos Menem is still one of flamboyance and prosperity. Despite crippling the Argentinean economy with his massive program of privatisation, his personal fortune is largely unscathed and he confidently expects a return to office. One woman stands in his way: opposition leader Elisa Carrio. Plain-dressing, plain-speaking, with a genuine concern for the poor, Carrio stands in direct contrast to the man she terms the "boss of the political mafia". But with no help from the international community and increasing desperation amongst the people, will the Argentinians turn to Carrio?
Produced by ABC Australia
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