Word: pesos
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Dates: during 1990-1999
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...senior Democrats defended the president's move, but some members, such as Rep. Robert Menendez, (D-N.J), complained that Congress had been "shut out." Hard-right Republicans, meanwhile, are calling for an investigation of the Administration's role in Mexico's Dec. 20 decision to devalue the peso. Nonetheless, business leaders almost unanimously praised Clinton's move: International investors said the plan had likely staved off a worldwide financial crisis. Super-speculator George Soros, speaking at the World Economic Forum in Switzerland Monday, said inaction "would have had a knock-on effect throughout the world because investors would...
When House GOP caucus chair John Boehner of Ohio took the floor with warnings that Clinton's peso rescue plan was "unfortunate," Gingrich -- who happened to be meeting with Vice President Al Gore -- took the mike: "I think it was very unfortunate to have a member of the leadership come out when the vice president is here being very helpful and very cooperative frankly . . . The president had the courage to do what he was being told by very sophisticated experts was vital to reinforce international markets...
Since the Peso devaluation, many journalists have been scrambling to say Ross Perot was not correct when he predicted the perils of the North American Free Trade Agreement. In hindsight, they say, of course, everybody knew that the Mexican peso was overvalued, that the financial reserves were declining and that Mexican imports greatly exceeded exports! Give Ross the credit he deserves; he had the courage to state the obvious when many others closed their eyes during the NAFTA debates...
...free and fair elections. According to opposition leaders, the signers agreed privately to hold new balloting in the unruly southern states of Tabasco and Chiapas, where widespread fraud was reported in last year's elections. In Washington the Clinton Administration's proposed $40 billion bailout of the weakened peso met with stiff opposition from Democrats...
Little more than a year ago in Chiapas state, the eruption of the rebel Zapatista National Liberation Army triggered national turmoil. Renewed militancy there last month was widely seen as contributing to the wrecking of the peso and the loss of billions of dollars around the world. Whatever the global reaction, in Chiapas the small band of rebels has reason to be awed at the impact of its efforts. Army units were rushed in not only to combat the rebels but also to help improve the life of peasants by building clinics, schools and roads. Government public works projects picked...