Argentina's Downward Spiral

 

Look closely, and the official photograph from last weekend’s Summit of the Americas in Cartagena is unusual. Cristina Fernández, Argentina’s customarily prominent and coquettish president, is almost out of sight at the back. Soon after the picture was taken, she flew home early.

By all accounts, Ms Fernández was furious. She had failed to muster regional support for her country’s claim to the Falkland Islands. There was behind-the-scenes talk, too, that Argentina might be kicked out of the Group of 20 leading industrial and developing nations. Back in Buenos Aires, Ms Fernández returned to the attack. Argentina, she told a cheering audience, would renationalise YPF, the Spanish-controlled oil company.

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