Abstract:

The crisis Argentina is experiencing today can be attributed more to a political than to an economical cause. Certainly the vicious circle between debt and current recession has been fuelly this deep crisis. But Argentina's debt represents only 52% of its GDP, which is by no means catastrophic for such a country, and Argentina disposes of quite a big productive potential. The initiative to bring Argentina out of this dilemma must primarily come from the political class, which is the heir of a long state-centred and 'clientelistic' past where the Peronism occupies key positions. Some courageous politicians could therefore design ambitious new goals, on the basis of an unprecedented social mobilisation. But an ambitious project is toay necessary with three elements: a reform of the state and is fiscal affaires, a 'neo-keynesian' boost of investment and consumption and an acceleration of the regional integration process through the Mercosur.


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