This is CBS I On The World, the New World Report, Professor Avinellis Yossi Army War

College Strategic Studies Institute.

Argentina's huge, huge election, soon enough in this year, in the fall of this year.

Argentina's inability to negotiate with the IMF successfully, at the same time doubts

about the future of the Argentine economy because the expectation, like a storm cloud coming

over the horizon, is a devaluation which will accelerate inflation already somewhere

between a hundred and a hundred and forty somewhere in their moves around, a hundred and

sixteen percent.

In other words, totally unacceptable.

There are many candidates approaching the same story, including the financial secretary,

a man who could be blamed for the inflation, but then again, it's always been a story

in Argentina that the currency is in doubt and the economy is in trouble.

Professor, I read in the financial times that Javier Malay, an economist in congressman,

is one of the candidates who believes that the banking crisis, the banking business, the

government problem with inflation can be solved with austerity.

I'll just use that single term.

That makes sense.

It's very attractive, but is it attractive to the Argentina voter austerity?

That means cutting expenditures by the government, laying off people who are government employees,

dealing with the unions in a direct fashion and not always obliging them.

In general, the whole understanding of Dionysus set aside and with a bottom line in sight.

Is that probable in Argentina?

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