Argentine provincialism. (Point of View).When Gen. Juan Domingo Peron Noun 1. Juan Domingo Peron - Argentine soldier who became president of Argentina (1895-1974) Peron took over Banco de la Provincia de Buenos Aires Buenos Aires (bwā`nəs ī`rēz, âr`ēz, Span. bwā`nōs ī`rās), city and federal district (1991 pop. in 1946, the government provided deposit guarantees, ordered the state-run bank to follow federal financial policies and gave the province of Buenos Aires authority to run the institution, a process called the provincialization of the bank. Today, Argentina is going through another round of provincialization--but this time it's holding the entire population's money hostage. Banco de la Provincia, the oldest hank in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , and the rest of the country's financial system teeter on the brink of bankruptcy with only federally ordered bank holidays preventing a total collapse. And, in effect, state governors are running the country. So far, not so good. With no cash, people can do little except protest. Business turns to barter barter: see exchange. barter Direct exchange of goods or services without the use of money or any other intervening medium of exchange. Barter is conducted either according to established rates of exchange or by bargaining. . Supermarkets and pharmacies, which collect the limited currency in circulation, become banks. If that's the best Argentine authorities can muster then they should stop confiscating deposits and give people their devalued de·val·ue also de·val·u·ate v. de·val·ued also de·valu·at·ed, de·val·u·ing also de·val·u·at·ing, de·val·ues also de·val·u·ates v.tr. 1. To lessen or cancel the value of. pesos. |
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