----------------- HES POSTING ----------------- Quite right Anil, the interesting thing among what you've said is that Argentina had the experience back (with the pseudo currency board and all the stuff) in the thirties. A year ago, if I recall right, DellaPaolera and Taylor wrote a very interesting NBER paper about what went wrong at that time (and this time?). From the last minute events it seems to me that they are trying to fix things down there....we will see... Ariel Viale ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]