Juan Llach: "Argentineans are good at spending money but not for generating it"

– Yes, many times people turn out, it's an entirely human reaction, to say that this may have no solution, as happens with many diseases that are not yet curable. I think there were three theoretical paths: 1) the shock, but the big problem is that it badumes that the company is plasticine that is to say totally malleable, and that adapts to any combination of variables that the Minister of Finance may think in turn, because the shock is fundamentally a fiscal policy; 2) who favors the correction of the external fiscal deficit and then proposes a cure which has to do with a mega-devaluation of the peso much larger than that which took place initially, and with deductions on exports. It's a path that Argentina has traveled many times and the truth is that they have not come to a good end. Even so, I think the opportunity that was lost in 2004 is almost the worst of Argentina 's history because it came from an annual inflation rate of 4%; the country was growing; the terms of trade (difference between the change in export and import prices) were very positive; it was an almost earthly paradise, and it was wasted; and 3) the gradualism, which sees that there is a very important fiscal problem, and attempts, by the IPO, to give an answer to the question of the external deficit. I think that from the beginning it should have been known and kept in mind that gradualism carries a huge risk, since there is very little internal funding, that external funding is cut …