La crisis de la convertibilidad

The popular uprising on december 2001 closed the neoliberal model established in Argentina on the 20th Century?s last decade, thus ended one of the deepest capitalist ofensives in latinamerican history, centered on the isertion of argentine economy in the world market on the base of convertible currency, i.e. fixed exchange rate with the U.S. dollar and free convertion to this. This paper presents a brief analysis on the convertibility regime crisis; one of the main features of this regime consisted on the promotion of a higher exploitation of labour, through the jeopardy of bancrupcy faced by capitalists; but it was just this feature which established the limits of the convertibility regime, these consisted precisely on the workers resistence to higher exploitation; so, between middle 1999 and december 2001 a deepening of economic depresion assembled with the radicalization of social struggle, driving to financial crisis and the falling of the De la Rua administration