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Old 12-02-2011, 04:17 PM  
halfpint
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Join Date: Jun 2007
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I will never put my money in a bank again !!

Scary times

Journalist Carina Etchegaray will never forget 3 December, 2001.
She and her family were buying a flat in the Argentine capital, Buenos Aires.
Within hours, her hopes of being a property owner had vanished into thin air.

Faced with a mounting economic crisis, the government had announced a new decree to limit bank withdrawals or transfers to the equivalent of $250 (£160) a week.
The aim was to stop a run on the banks.

At a stroke, Ms Etchegaray and millions of her fellow citizens were unable to access all their savings.
Long queues formed at banks across Argentina as people tried to get hold of their money. Soon frustration turned to anger.

"It was something we had never seen before. You did not know what to do or where to go to ask for your savings, because all the banks were closed," says Ms Etchegaray.

"You would knock on their doors and nobody answered."
Upheaval

The decree, known as the "corralito" or "ring fence", sparked such unrest that the elected government fell, and many feared for the survival of the political institutions.
Demonstrators bang on the door of the branch of Banco Frances in the financial district of Buenos Aires, 6 February 2002. "I want my dollars back": Many Argentines went through months of desperation

Riots started in the main cities and there was widespread looting.

A state of emergency was declared, but it only made things worse. By 20 December, some 40 people had died in clashes with the police.

"Coming up to this 10th anniversary, I've been thinking about those moments of tension, uncertainty and sadness," says Ms Etchegaray.

You had to get on with life, she says, but it was a very anxious time.

"When you went to buy food for your children, it was common to find that the supermarket had been looted.

Video and more here http://www.bbc.co.uk/news/world-latin-america-15981406
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