2 5 The the DT 6 15 Europeans European NNPS 16 19 are be VBP 20 36 enthusiastically enthusiastically RB 37 44 holding hold VBG 45 47 in in IN 48 53 their their PRP$ 54 59 hands hand NNS 60 61 “ `` `` 61 64 the the DT 65 69 euro euro NN 69 70 , , , 71 74 our our PRP$ 75 83 currency currency NN 83 84 ” '' '' 85 89 that that IN 90 93 for for IN 94 96 so so RB 97 101 long long RB 102 105 had have VBD 106 110 been be VBN 111 113 no no RB 114 118 more more RBR 119 123 than than IN 124 125 a a DT 126 138 much-wielded much-wielded JJ 139 145 slogan slogan NN 145 146 . . . 147 149 So so RB 150 152 is be VBZ 153 155 it it PRP 156 162 really really RB 163 166 the the DT 167 173 moment moment NN 174 176 to to TO 177 181 take take VB 182 183 a a DT 184 188 look look NN 189 191 at at IN 192 201 Argentina Argentina NNP 201 202 ? ? . 203 207 More more JJR 208 212 than than IN 213 217 ever ever RB 218 220 in in IN 221 225 fact fact NN 225 226 , , , 227 229 as as IN 230 233 the the DT 234 243 financial financial JJ 244 250 crisis crisis NN 251 255 that that WDT 256 258 is be VBZ 259 266 shaking shake VBG 267 273 Buenos Buenos NNP 274 279 Aires Aires NNP 280 283 has have VBZ 284 285 a a DT 286 292 useful useful JJ 293 300 message message NN 301 304 for for IN 305 307 us us PRP 307 308 : : : 309 312 The the DT 313 319 choice choice NN 320 322 of of IN 323 324 a a DT 325 333 currency currency NN 334 337 can can MD 338 343 never never RB 344 346 be be VB 347 354 reduced reduce VBN 355 357 to to TO 358 359 a a DT 360 366 simple simple JJ 367 370 act act NN 371 373 of of IN 374 383 political political JJ 384 388 will will NN 388 389 . . . 390 393 One one CD 394 398 must must MD 399 409 understand understand VB 410 413 all all PDT 414 417 the the DT 418 430 implications implication NNS 430 431 , , , 432 437 often often RB 438 451 unfortunately unfortunately RB 452 461 invisible invisible JJ 461 462 . . . 469 471 It it PRP 472 474 is be VBZ 475 478 not not RB 479 485 enough enough JJ 486 488 to to TO 489 497 proclaim proclaim VB 497 498 , , , 499 503 even even RB 504 506 in in IN 507 510 the the DT 511 523 Constitution Constitution NNP 523 524 , , , 525 529 that that IN 530 533 one one CD 534 538 peso peso NN 539 541 is be VBZ 542 547 worth worth JJ 548 551 one one CD 552 558 dollar dollar NN 558 559 , , , 560 563 for for IN 564 568 that that DT 569 571 to to TO 572 574 be be VB 575 581 really really RB 582 585 the the DT 586 590 case case NN 590 591 . . . 592 595 The the DT 596 606 Argentines Argentine NNPS 607 614 thought think VBD 615 619 they they PRP 620 623 had have VBD 624 634 discovered discover VBN 635 638 the the DT 639 650 philosopher philosopher NN 650 652 ’s 's POS 653 658 stone stone NN 659 661 in in IN 662 666 1991 1991 CD 666 667 . . . 668 671 The the DT 672 679 linking linking NN 680 682 to to TO 683 686 the the DT 687 693 dollar dollar NN 693 694 , , , 695 697 as as IN 698 699 a a DT 700 709 guarantee guarantee NN 710 712 of of IN 713 722 stability stability NN 722 723 , , , 724 727 was be VBD 728 733 meant mean VBN 734 736 to to TO 737 740 rid rid VB 741 745 them them PRP 746 748 of of IN 749 752 the the DT 753 767 hyperinflation hyperinflation NN 768 775 running run VBG 776 778 at at IN 779 783 2000 2000 CD 784 791 percent percent NN 792 793 a a DT 794 798 year year NN 799 803 they they PRP 804 807 had have VBD 808 819 experienced experience VBN 820 826 during during IN 827 830 the the DT 831 836 1970s 1970 NNS 837 840 and and CC 841 844 80s 80 NNS 844 845 . . . 846 849 The the DT 850 854 tale tale NN 855 860 today today NN 861 863 is be VBZ 864 867 all all PDT 868 871 the the DT 872 876 more more RBR 877 883 bitter bitter JJ 884 886 as as IN 887 889 it it PRP 890 895 began begin VBD 896 900 with with IN 901 905 such such JJ 906 914 euphoria euphoria NN 914 915 . . . 922 925 The the DT 926 932 social social JJ 933 941 contract contract NN 942 953 implemented implement VBN 954 956 by by IN 957 963 Carlos Carlos NNP 964 969 Menem Menem NNP 970 972 at at IN 973 976 the the DT 977 982 start start NN 983 985 of of IN 986 989 his his PRP$ 990 997 10-year 10-year JJ 998 1008 presidency presidency NN 1009 1010 ( ( ( 1010 1017 1989-99 1989-99 CD 1017 1018 ) ) ) 1019 1022 was be VBD 1023 1029 simple simple JJ 1030 1032 in in IN 1033 1042 principle principle NN 1043 1046 and and CC 1047 1052 based base VBN 1053 1055 on on IN 1056 1059 two two CD 1060 1067 pillars pillar NNS 1067 1068 : : : 1069 1077 Monetary monetary JJ 1078 1088 discipline discipline NN 1089 1092 and and CC 1093 1103 liberalism liberalism NN 1103 1104 . . . 1111 1122 Introducing introduce VBG 1123 1126 the the DT 1127 1135 currency currency NN 1136 1141 board board NN 1142 1148 system system NN 1149 1151 in in IN 1152 1156 1991 1991 CD 1157 1164 obliged oblige VBD 1165 1168 the the DT 1169 1176 central central JJ 1177 1181 bank bank NN 1182 1184 to to TO 1185 1194 guarantee guarantee VB 1195 1198 the the DT 1199 1204 pesos peso NNS 1205 1207 in in IN 1208 1219 circulation circulation NN 1220 1224 with with IN 1225 1232 foreign foreign JJ 1233 1241 currency currency NN 1242 1250 reserves reserve NNS 1250 1251 , , , 1252 1254 in in IN 1255 1258 the the DT 1259 1263 same same JJ 1264 1267 way way NN 1268 1270 as as IN 1271 1278 issuing issue VBG 1279 1285 bodies body NNS 1286 1290 used use VBN 1291 1293 to to TO 1294 1298 only only RB 1299 1304 issue issue VB 1305 1310 notes note NNS 1311 1313 to to TO 1314 1317 the the DT 1318 1328 equivalent equivalent NN 1329 1331 of of IN 1332 1335 the the DT 1336 1340 gold gold NN 1341 1349 reserves reserve NNS 1350 1354 they they PRP 1355 1359 held hold VBD 1359 1360 . . . 1361 1366 Hence hence RB 1367 1370 the the DT 1371 1379 official official JJ 1380 1386 parity parity NN 1387 1394 between between IN 1395 1398 the the DT 1399 1403 peso peso NN 1404 1407 and and CC 1408 1411 the the DT 1412 1418 dollar dollar NN 1419 1424 until until IN 1425 1426 1 1 CD 1427 1435 December December NNP 1436 1440 2001 2001 CD 1441 1445 when when WRB 1446 1448 it it PRP 1449 1455 became become VBD 1456 1465 necessary necessary JJ 1466 1468 to to TO 1469 1478 introduce introduce VB 1479 1487 exchange exchange NN 1488 1496 controls control NNS 1497 1501 with with IN 1502 1503 a a DT 1504 1515 devastating devastating JJ 1516 1522 effect effect NN 1522 1523 . . . 1530 1533 The the DT 1534 1544 commitment commitment NN 1545 1547 to to TO 1548 1558 liberalism liberalism NN 1558 1559 , , , 1560 1563 the the DT 1564 1570 second second JJ 1571 1577 strand strand NN 1578 1580 of of IN 1581 1584 the the DT 1585 1590 Menem Menem NNP 1591 1598 program program NN 1598 1599 , , , 1600 1605 lived live VBD 1606 1608 up up RP 1609 1611 to to TO 1612 1615 its its PRP$ 1616 1624 promises promise NNS 1624 1625 . . . 1626 1639 Privatization Privatization NNP 1640 1646 earned earn VBD 1647 1648 $ $ $ 1648 1650 40 40 CD 1651 1658 billion billion CD 1658 1659 . . . 1660 1663 Its its PRP$ 1664 1671 success success NN 1672 1683 established establish VBD 1684 1687 the the DT 1688 1698 reputation reputation NN 1699 1701 of of IN 1702 1708 Buenos Buenos NNP 1709 1714 Aires Aire NNPS 1715 1717 on on IN 1718 1731 international international JJ 1732 1739 markets market NNS 1739 1740 . . . 1741 1744 The the DT 1745 1749 real real JJ 1750 1755 gauge gauge NN 1756 1758 of of IN 1759 1763 this this DT 1764 1774 confidence confidence NN 1775 1778 was be VBD 1779 1782 the the DT 1783 1787 size size NN 1788 1790 of of IN 1791 1794 the the DT 1795 1803 national national JJ 1804 1808 debt debt NN 1808 1809 , , , 1810 1814 that that WDT 1815 1819 grew grow VBD 1820 1823 and and CC 1824 1828 grew grow VBD 1828 1829 . . . 1830 1832 It it PRP 1833 1837 more more RBR 1838 1842 than than IN 1843 1850 doubled double VBN 1851 1857 during during IN 1858 1861 the the DT 1862 1867 1990s 1990s CD 1867 1868 , , , 1869 1873 from from IN 1874 1875 $ $ $ 1875 1877 60 60 CD 1878 1885 billion billion CD 1886 1888 to to TO 1889 1890 $ $ $ 1890 1893 132 132 CD 1894 1896 or or CC 1897 1901 even even RB 1902 1903 $ $ $ 1903 1906 150 150 CD 1907 1909 in in IN 1910 1914 2001 2001 CD 1914 1915 , , , 1916 1922 making make VBG 1923 1932 Argentina Argentina NNP 1933 1936 the the DT 1937 1943 number number NN 1944 1947 one one CD 1948 1954 market market NN 1955 1963 borrower borrower NN 1964 1969 among among IN 1970 1973 the the DT 1974 1982 emerging emerge VBG 1983 1992 economies economy NNS 1992 1993 . . . 2000 2007 Looking look VBG 2008 2012 back back RB 2013 2016 one one PRP 2017 2020 can can MD 2021 2024 see see VB 2025 2026 a a DT 2027 2034 general general JJ 2035 2039 lack lack NN 2040 2042 of of IN 2043 2052 vigilance vigilance NN 2052 2053 . . . 2054 2058 Also also RB 2059 2061 on on IN 2062 2065 the the DT 2066 2070 part part NN 2071 2073 of of IN 2074 2077 the the DT 2078 2091 International International NNP 2092 2100 Monetary Monetary NNP 2101 2105 Fund Fund NNP 2106 2111 whose whose WP$ 2112 2121 principal principal JJ 2122 2126 role role NN 2127 2129 is be VBZ 2130 2132 to to TO 2133 2135 be be VB 2136 2144 watchdog watchdog NN 2145 2151 before before IN 2152 2159 bailing bail VBG 2160 2163 out out RP 2164 2169 those those DT 2170 2173 who who WP 2174 2178 come come VBP 2179 2186 unstuck unstuck JJ 2186 2187 . . . 2188 2195 Michael Michael NNP 2196 2201 Mussa Mussa NNP 2201 2202 , , , 2203 2208 chief chief JJ 2209 2218 economist economist NN 2219 2223 with with IN 2224 2227 the the DT 2228 2231 IMF IMF NNP 2232 2237 until until IN 2238 2242 last last JJ 2243 2248 April April NNP 2248 2249 , , , 2250 2260 recognizes recognize VBZ 2261 2265 this this DT 2265 2266 : : : 2267 2268 “ `` `` 2268 2270 If if IN 2271 2273 we we PRP 2274 2277 had have VBD 2278 2282 paid pay VBN 2283 2287 more more JJR 2288 2297 attention attention NN 2298 2300 to to TO 2301 2304 the the DT 2305 2312 growing grow VBG 2313 2322 budgetary budgetary JJ 2323 2330 deficit deficit NN 2331 2334 and and CC 2335 2343 national national JJ 2344 2348 debt debt NN 2349 2356 between between IN 2357 2361 1996 1996 CD 2362 2365 and and CC 2366 2370 1998 1998 CD 2370 2371 , , , 2372 2381 Argentina Argentina NNP 2382 2387 would would MD 2388 2392 have have VB 2393 2397 been be VBN 2398 2400 in in IN 2401 2402 a a DT 2403 2407 much much RB 2408 2414 better good JJR 2415 2423 position position NN 2424 2426 to to TO 2427 2433 absorb absorb VB 2434 2437 the the DT 2438 2444 impact impact NN 2445 2447 of of IN 2448 2451 the the DT 2452 2463 devaluation devaluation NN 2464 2466 of of IN 2467 2470 the the DT 2471 2480 Brazilian brazilian JJ 2481 2485 real real NN 2485 2486 . . . 2486 2487 ” '' '' 2494 2497 The the DT 2498 2502 fall fall NN 2503 2507 came come VBD 2508 2510 in in IN 2511 2515 1998 1998 CD 2515 2516 , , , 2517 2521 when when WRB 2522 2528 Brazil Brazil NNP 2528 2529 , , , 2530 2534 made make VBD 2535 2545 vulnerable vulnerable JJ 2546 2548 by by IN 2549 2552 the the DT 2553 2558 Asian asian JJ 2559 2565 crisis crisis NN 2565 2566 , , , 2567 2576 abandoned abandon VBD 2577 2580 its its PRP$ 2581 2586 fixed fixed JJ 2587 2593 parity parity NN 2594 2601 against against IN 2602 2605 the the DT 2606 2612 dollar dollar NN 2612 2613 . . . 2614 2624 Economists economist NNS 2625 2628 and and CC 2629 2635 market market NN 2636 2643 players player NNS 2644 2648 then then RB 2649 2656 noticed notice VBD 2657 2661 that that IN 2662 2671 Argentina Argentina NNP 2672 2675 had have VBD 2676 2680 been be VBN 2681 2682 “ `` `` 2682 2695 over-financed over-financed JJ 2695 2696 . . . 2696 2697 ” '' '' 2698 2699 “ `` `` 2699 2710 Credibility credibility NN 2711 2721 evaporated evaporate VBD 2721 2722 , , , 2722 2723 ” '' '' 2724 2726 to to TO 2727 2732 quote quote VB 2733 2736 the the DT 2737 2747 expression expression NN 2748 2750 of of IN 2751 2754 one one CD 2755 2761 expert expert NN 2762 2765 who who WP 2766 2774 stresses stress VBZ 2775 2778 the the DT 2779 2788 paradoxes paradox NNS 2789 2791 of of IN 2792 2793 a a DT 2794 2800 system system NN 2801 2806 whose whose WP$ 2807 2812 bases base NNS 2813 2819 seemed seem VBD 2820 2825 sound sound NN 2825 2826 . . . 2833 2838 First first JJ 2839 2846 paradox paradox NN 2846 2847 : : : 2848 2851 The the DT 2852 2861 Argentine argentine JJ 2862 2869 economy economy NN 2870 2872 is be VBZ 2873 2876 not not RB 2877 2881 very very RB 2882 2886 open open JJ 2886 2887 , , , 2888 2891 not not RB 2892 2896 even even RB 2897 2899 to to TO 2900 2903 its its PRP$ 2904 2913 neighbors neighbor NNS 2914 2916 in in IN 2917 2922 Latin Latin NNP 2923 2930 America America NNP 2930 2931 . . . 2932 2935 Its its PRP$ 2936 2943 exports export NNS 2944 2950 amount amount NN 2951 2953 to to TO 2954 2958 just just RB 2959 2960 8 8 CD 2961 2968 percent percent NN 2969 2971 of of IN 2972 2975 its its PRP$ 2976 2979 GDP GDP NNP 2979 2980 , , , 2981 2983 as as IN 2984 2986 do do VBP 2987 2990 its its PRP$ 2991 2998 imports import NNS 2998 2999 . . . 3000 3003 The the DT 3004 3010 result result NN 3011 3013 is be VBZ 3014 3015 a a DT 3016 3021 trade trade NN 3022 3029 balance balance NN 3029 3030 , , , 3031 3033 in in IN 3034 3040 marked marked JJ 3041 3049 contrast contrast NN 3050 3052 to to TO 3053 3054 a a DT 3055 3062 balance balance NN 3063 3065 of of IN 3066 3074 payments payment NNS 3075 3082 deficit deficit NN 3083 3091 burdened burden VBN 3092 3094 by by IN 3095 3104 servicing service VBG 3105 3108 its its PRP$ 3109 3113 debt debt NN 3113 3114 . . . 3115 3120 Other other JJ 3121 3130 countries country NNS 3131 3135 live live VBP 3136 3138 on on IN 3139 3140 a a DT 3141 3149 currency currency NN 3150 3155 board board NN 3156 3162 system system NN 3162 3163 , , , 3164 3168 most most RBS 3169 3176 notably notably RB 3177 3181 Hong Hong NNP 3182 3186 Kong Kong NNP 3186 3187 . . . 3188 3191 But but CC 3192 3196 this this DT 3197 3204 Chinese chinese JJ 3205 3214 territory territory NN 3215 3218 has have VBZ 3219 3221 an an DT 3222 3231 extremely extremely RB 3232 3236 open open JJ 3237 3244 economy economy NN 3244 3245 , , , 3246 3248 to to TO 3249 3252 the the DT 3253 3258 point point NN 3259 3264 where where WRB 3265 3268 its its PRP$ 3269 3276 exports export NNS 3277 3283 exceed exceed VB 3284 3287 its its PRP$ 3288 3291 GDP GDP NNP 3291 3292 , , , 3293 3300 thereby thereby RB 3301 3313 facilitating facilitate VBG 3314 3317 the the DT 3318 3324 influx influx NN 3325 3327 of of IN 3328 3335 foreign foreign JJ 3336 3344 currency currency NN 3344 3345 . . . 3352 3358 Second second JJ 3359 3366 paradox paradox NN 3366 3367 : : : 3368 3371 The the DT 3372 3387 self-proclaimed self-proclaimed JJ 3388 3394 parity parity NN 3395 3402 between between IN 3403 3406 the the DT 3407 3411 peso peso NN 3412 3415 and and CC 3416 3419 the the DT 3420 3426 dollar dollar NN 3427 3432 never never RB 3433 3440 enabled enable VBD 3441 3444 the the DT 3445 3455 government government NN 3456 3459 and and CC 3460 3464 even even RB 3465 3469 less less RBR 3470 3477 private private JJ 3478 3487 borrowers borrower NNS 3488 3490 to to TO 3491 3497 obtain obtain VB 3498 3504 credit credit NN 3505 3510 terms term NNS 3511 3513 to to TO 3514 3519 match match VB 3520 3525 those those DT 3526 3533 enjoyed enjoy VBN 3534 3536 by by IN 3537 3540 the the DT 3541 3550 Americans American NNPS 3550 3551 . . . 3552 3555 The the DT 3556 3560 risk risk NN 3561 3568 premium premium NN 3569 3572 has have VBZ 3573 3579 always always RB 3580 3584 been be VBN 3585 3597 considerable considerable JJ 3597 3598 , , , 3599 3604 rates rate NNS 3605 3610 never never RB 3611 3618 falling fall VBG 3619 3624 below below IN 3625 3627 10 10 CD 3628 3635 percent percent NN 3635 3636 . . . 3637 3641 This this DT 3642 3648 places place VBZ 3649 3651 an an DT 3652 3662 unbearable unbearable JJ 3663 3669 burden burden NN 3670 3672 on on IN 3673 3676 the the DT 3677 3687 government government NN 3688 3690 in in IN 3691 3700 servicing service VBG 3701 3704 the the DT 3705 3709 debt debt NN 3710 3713 and and CC 3714 3715 a a DT 3716 3723 revenue revenue NN 3724 3726 to to TO 3727 3732 match match VB 3733 3736 for for IN 3737 3740 the the DT 3741 3750 creditors creditor NNS 3750 3751 . . . 3752 3761 Argentine argentine JJ 3762 3769 pension pension NN 3770 3775 funds fund NNS 3776 3780 have have VBP 3781 3788 enjoyed enjoy VBN 3789 3797 interest interest NN 3798 3803 rates rate NNS 3804 3806 as as RB 3807 3811 high high JJ 3812 3814 as as IN 3815 3817 35 35 CD 3818 3825 percent percent NN 3826 3830 over over IN 3831 3837 recent recent JJ 3838 3844 months month NNS 3844 3845 : : : 3846 3848 No no RB 3849 3853 less less JJR 3854 3858 than than IN 3859 3861 45 45 CD 3862 3869 percent percent NN 3870 3872 of of IN 3873 3876 the the DT 3877 3885 national national JJ 3886 3890 debt debt NN 3891 3900 estimated estimate VBN 3901 3903 at at IN 3904 3911 between between IN 3912 3913 $ $ $ 3913 3916 130 130 CD 3917 3920 and and CC 3921 3922 $ $ $ 3922 3925 150 150 CD 3926 3933 billion billion CD 3934 3936 is be VBZ 3937 3941 held hold VBN 3942 3944 by by IN 3945 3948 the the DT 3949 3959 Argentines Argentine NNPS 3960 3970 themselves themselves PRP 3970 3971 . . . 3978 3982 Over over IN 3983 3989 recent recent JJ 3990 3995 weeks week NNS 3996 4002 street street VBP 4003 4017 demonstrations demonstration NNS 4018 4029 culminating culminate VBG 4030 4032 in in IN 4033 4036 the the DT 4037 4044 general general JJ 4045 4051 strike strike NN 4052 4054 of of IN 4055 4057 13 13 CD 4058 4066 December December NNP 4067 4071 have have VBP 4072 4076 been be VBN 4077 4080 the the DT 4081 4085 most most RBS 4086 4093 visible visible JJ 4094 4100 aspect aspect NN 4101 4103 of of IN 4104 4105 a a DT 4106 4111 civil civil JJ 4112 4115 war war NN 4116 4123 between between IN 4124 4133 creditors creditor NNS 4134 4137 and and CC 4138 4145 debtors debtor NNS 4145 4146 . . . 4153 4160 Appeals Appeal NNP 4161 4165 were be VBD 4166 4173 already already RB 4174 4178 made make VBN 4179 4181 to to TO 4182 4185 the the DT 4186 4195 creditors creditor NNS 4196 4202 during during IN 4203 4206 the the DT 4207 4212 first first JJ 4213 4218 phase phase NN 4219 4221 of of IN 4222 4225 the the DT 4226 4230 debt debt NN 4231 4243 rescheduling reschedule VBG 4244 4253 involving involve VBG 4254 4257 the the DT 4258 4259 $ $ $ 4259 4261 55 55 CD 4262 4269 billion billion CD 4270 4274 held hold VBN 4275 4277 by by IN 4278 4287 Argentine argentine JJ 4288 4293 funds fund NNS 4294 4297 and and CC 4298 4302 that that DT 4303 4306 was be VBD 4307 4316 completed complete VBN 4317 4319 at at IN 4320 4323 the the DT 4324 4327 end end NN 4328 4330 of of IN 4331 4339 November November NNP 4339 4340 . . . 4341 4344 And and CC 4345 4349 they they PRP 4350 4354 will will MD 4355 4359 come come VB 4360 4365 under under IN 4366 4374 pressure pressure NN 4375 4380 again again RB 4380 4381 : : : 4382 4385 The the DT 4386 4389 IMF IMF NNP 4389 4391 ’s 's POS 4392 4398 recent recent JJ 4399 4406 refusal refusal NN 4407 4409 to to TO 4410 4417 approve approve VB 4418 4419 a a DT 4420 4421 $ $ $ 4421 4424 1.3 1.3 CD 4425 4432 billion billion CD 4433 4437 loan loan NN 4438 4440 is be VBZ 4441 4449 designed design VBN 4450 4462 specifically specifically RB 4463 4465 to to TO 4466 4470 help help VB 4471 4478 Finance Finance NNP 4479 4487 Minister Minister NNP 4488 4495 Domingo Domingo NNP 4496 4503 Cavallo Cavallo NNP 4504 4507 put put VBD 4508 4516 pressure pressure NN 4517 4519 on on IN 4520 4527 private private JJ 4528 4537 investors investor NNS 4537 4538 , , , 4539 4541 as as IN 4542 4545 the the DT 4546 4552 latter latter JJ 4553 4557 have have VBP 4558 4565 clearly clearly RB 4566 4576 understood understand VBN 4577 4581 even even RB 4582 4584 if if IN 4585 4588 not not RB 4589 4595 always always RB 4596 4599 the the DT 4600 4609 observers observer NNS 4609 4610 . . . 4611 4613 At at IN 4614 4617 the the DT 4618 4622 same same JJ 4623 4627 time time NN 4628 4635 private private JJ 4636 4643 debtors debtor NNS 4644 4647 who who WP 4648 4654 became become VBD 4655 4663 indebted indebte VBN 4664 4666 in in IN 4667 4668 a a DT 4669 4675 strong strong JJ 4676 4684 currency currency NN 4685 4690 would would MD 4691 4695 find find VB 4696 4706 themselves themselves PRP 4707 4713 ruined ruin VBN 4714 4716 by by IN 4717 4718 a a DT 4719 4723 peso peso NN 4724 4735 devaluation devaluation NN 4735 4736 . . . 4737 4741 This this DT 4742 4744 is be VBZ 4745 4748 why why WRB 4749 4762 dollarization dollarization NN 4763 4766 has have VBZ 4767 4776 generated generate VBN 4777 4781 such such JJ 4782 4789 support support NN 4790 4795 among among IN 4796 4807 politicians politician NNS 4807 4808 : : : 4809 4813 From from IN 4814 4820 former former JJ 4821 4830 President President NNP 4831 4837 Carlos Carlos NNP 4838 4843 Menem Menem NNP 4843 4844 , , , 4845 4850 today today NN 4851 4857 leader leader NN 4858 4860 of of IN 4861 4864 the the DT 4865 4869 most most RBS 4870 4881 influential influential JJ 4882 4890 Peronist peronist NN 4891 4898 faction faction NN 4898 4899 , , , 4900 4902 to to TO 4903 4906 new new JJ 4907 4914 Finance Finance NNP 4915 4924 Secretary Secretary NNP 4925 4931 Miguel Miguel NNP 4932 4938 Kiguel Kiguel NNP 4938 4939 , , , 4940 4941 a a DT 4942 4948 former former JJ 4949 4955 banker banker NN 4955 4956 , , , 4957 4964 charged charge VBN 4965 4970 along along RB 4971 4975 with with IN 4976 4983 Domingo Domingo NNP 4984 4991 Cavallo Cavallo NNP 4992 4996 with with IN 4997 5006 restoring restore VBG 5007 5012 order order NN 5013 5015 to to TO 5016 5022 public public JJ 5023 5031 finances finance NNS 5031 5032 . . . 5039 5042 The the DT 5043 5048 final final JJ 5049 5055 switch switch NN 5056 5058 to to TO 5059 5062 the the DT 5063 5069 dollar dollar NN 5070 5075 would would MD 5076 5085 stabilize stabilize VB 5086 5095 relations relation NNS 5096 5103 between between IN 5104 5113 creditors creditor NNS 5114 5117 and and CC 5118 5125 debtors debtor NNS 5125 5126 . . . 5127 5130 But but CC 5131 5133 it it PRP 5134 5139 would would MD 5140 5144 also also RB 5145 5147 be be VB 5148 5149 a a DT 5150 5154 very very RB 5155 5162 painful painful JJ 5163 5166 way way NN 5167 5169 of of IN 5170 5179 restoring restore VBG 5180 5191 credibility credibility NN 5191 5192 , , , 5193 5194 “ `` `` 5194 5198 like like IN 5199 5203 when when WRB 5204 5207 one one NN 5208 5213 loses lose VBZ 5214 5217 one one NN 5217 5219 ’s 's POS 5220 5229 virginity virginity NN 5230 5233 and and CC 5234 5237 the the DT 5238 5242 only only JJ 5243 5251 solution solution NN 5252 5254 is be VBZ 5255 5257 to to TO 5258 5263 enter enter VB 5264 5265 a a DT 5266 5273 convent convent NN 5273 5274 , , , 5274 5275 ” '' '' 5276 5278 as as IN 5279 5282 one one CD 5283 5291 monetary monetary JJ 5292 5298 expert expert NN 5299 5302 put put VBD 5303 5305 it it PRP 5305 5306 . . . 5307 5310 But but CC 5311 5318 neither neither CC 5319 5332 dollarization dollarization NN 5333 5336 nor nor CC 5337 5340 the the DT 5341 5349 currency currency NN 5350 5355 board board NN 5356 5364 provides provide VBZ 5365 5366 a a DT 5367 5376 guarantee guarantee NN 5377 5379 of of IN 5380 5383 low low JJ 5384 5392 interest interest NN 5393 5398 rates rate NNS 5398 5399 , , , 5400 5402 as as IN 5403 5408 there there EX 5409 5413 will will MD 5414 5420 always always RB 5421 5423 be be VB 5424 5426 an an DT 5427 5428 “ `` `` 5428 5437 Argentine argentine JJ 5438 5442 risk risk NN 5442 5443 . . . 5443 5444 ” '' '' 5445 5449 Plus plus CC 5450 5455 there there EX 5456 5458 is be VBZ 5459 5462 the the DT 5463 5470 problem problem NN 5471 5473 of of IN 5474 5482 external external JJ 5483 5498 competitiveness competitiveness NN 5499 5503 that that WDT 5504 5511 remains remain VBZ 5512 5520 unsolved unsolved JJ 5520 5521 . . . 5522 5528 Unless unless IN 5529 5532 the the DT 5533 5537 peso peso NN 5538 5540 is be VBZ 5541 5549 devalued devalue VBN 5550 5556 before before IN 5557 5559 it it PRP 5560 5570 disappears disappear VBZ 5570 5571 , , , 5572 5576 that that WDT 5577 5579 is be VBZ 5580 5591 technically technically RB 5592 5600 possible possible JJ 5601 5604 but but CC 5605 5609 more more RBR 5610 5618 delicate delicate JJ 5619 5623 when when WRB 5624 5626 it it PRP 5627 5632 comes come VBZ 5633 5635 to to TO 5636 5647 credibility credibility NN 5647 5648 . . . 5655 5659 That that DT 5660 5666 leaves leave VBZ 5667 5670 the the DT 5671 5675 most most RBS 5676 5688 economically economically RB 5689 5698 realistic realistic JJ 5699 5707 solution solution NN 5707 5708 , , , 5709 5712 the the DT 5713 5716 one one NN 5717 5723 backed back VBN 5724 5726 by by IN 5727 5730 the the DT 5731 5740 technical technical JJ 5741 5748 experts expert NNS 5748 5749 : : : 5750 5758 Floating float VBG 5759 5762 the the DT 5763 5771 currency currency NN 5771 5772 , , , 5773 5776 but but CC 5777 5779 it it PRP 5780 5782 is be VBZ 5783 5787 also also RB 5788 5791 the the DT 5792 5796 most most RBS 5797 5802 risky risky JJ 5802 5803 . . . 5804 5807 Are be VBP 5808 5811 the the DT 5812 5822 Argentines Argentine NNPS 5823 5826 now now RB 5827 5829 in in IN 5830 5831 a a DT 5832 5840 position position NN 5841 5843 to to TO 5844 5849 forge forge VB 5850 5851 a a DT 5852 5855 new new JJ 5856 5862 social social JJ 5863 5871 contract contract NN 5871 5872 ? ? .