Domingo Cavallo, 15 July 2011

Many argue that Greece should drop the euro like Argentina dropped the dollar in 2002. In this column, Domingo Cavallo – who was Argentina's finance minister during the heart of its crisis – argues that exiting the euro would be wrong. Argentina’s growth recovery after it de-pegged the peso was due to exogenous developments in global commodity prices – not to the peso devaluation. He also suggests steps for an orderly restructuring of Greek debt.

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