Argentina Crisis essays

Argentina Crisis essays To truly understand the Argentina Crisis you must first know what has happened with their government within the past two years. Argentina has been in a terrible recession for the past four years. IN December 1999 newly elected president Fernando De La Rua vowed to restore the economy. Then the budget was not looking so good. Economy minister, Jose Luis Machina predicted the budget to over shoot the 5.2 billion dollar target by 10%. In March Machina said forget this and quit, to be replaced by Ricardo Lopez Murphy. Murphy steps right in presenting a tough 4.45 billion dollar two year austerity program with deep cuts in education. Distraught by these policies six government officials quit in protest and force Murphy to resign. In March 2001 Domingo Cavallo a former economy minister is appointed to try to restructure the economy. In the past two years Argentines have seen way too many faces slide through offices. This caused people to start to lose trust and hope in their government. Soon after Cavallos appointment the stock market crashes and three rating agencies slash Argentinas credit ratings. In July 2001 Murphys austerity bills are passed. Slashing state salaries and pensions by 13% and forcing an end to budget deficits. Argentines trust in their government is now completely lost. In November of that year people withdrew almost 1.3billlion dollars from their bank accounts. This worried Cavallo, so he ordered a restriction on the amount of money the pubic is allowed to withdraw from their bank accounts. This was also done to help out the banks. The pension funds that were taken are now being transformed into treasury bonds or government backed loans to pay service debts. Argentina now is in total crisis. Unemployment has risen to 18.3% and all unions are calling a strike. In December 2001 another official quits, Finance secretary Daniel Ma ...

Skirmish of 1692 essays

Skirmish of 1692 essays The elitist Spanish accounts make an attempt to put the Indians at the center of conflict, and accuse them of behaving ungratefully at a time in which the viceroy had tried to alleviate the corn shortage in good conscious. Don Juan de Escalante y Mendoza, the court attorney who had to prepare a report for the incident, insisted that the Indians were primarily to blame and it was necessary to contain the unrestrained boldness of a people who have betrayed the faithfulness and loyalty of vassalage with an action as unjust as it was unforeseen. He also insisted that the castas were to blame, for they had intoxicated the Indians with alcohol. Cope notes in Chapter 2, that the Spaniards had believed the racially mixed plebeians were capable of doing great harm and being malicious; therefore, they were immoral and capable of doing wrong for no apparent reason. Using this common social sentiment of the other races, Spaniards made the assumptions that such behavior was natural to the Indians and inherent in their own race. Siguenza y Gongora follows the same suit, insisting that the harvests were abundant; the Indian women were actually profiting, and that in an act of ungraciousness they (the Indians) brought about unjust uprising. Much of these statements sent were sent to the king, whom the Spanish colonials did not want to think that the non-Spaniards were being treated poorly, and supposedly this riot occurred because the Spanish colonials were unfit rulers. According to Cope, the Spaniards could provide no other explanation for this other than adopting the stereotypical view of the Indians as being savage and barbaric, and, therefore, ungrateful and very much capable of showing spontaneous resentment towards Spanish rule. This view of Indians explains why the elitist accounts are very much biased and reveal the Spanish prejudices of Indians. What did the authorities do to help? Authorities did indee...

Fuel cells Research Paper Example | Topics and Well Written Essays - 1000 words

Fuel cells - Research Paper Example The fuel cell also comprises of an electrolyte which functions to transfer the electrically charged components across electrodes. According to the University of Stathclyde Engineering (2015), fuel cells convert the energy from convectional fuels directly into direct current electrical energy. This results in added advantages in the use of fuel cells during the production of electricity. The major advantages associated with the use of fuel cells in the production of electricity include high efficiency, reliability and responsivity levels, low production of emissions, flexible use of fuels, flexibility in the size and application of the fuel cells, a longer life and the quiet mode of operation. In regard to high efficiency levels, fuel cells have been established to be better efficient due to lack of thermodynamic laws known to limit Carnot Cycle efficiencies. Theoretically, fuel cells can attain efficiency levels of 83% which is however lower in practice and stands at 50%. The operation mechanism of fuel cells operation ensures increased efficacy due to the lack of an intermediate conversion into heat that is the case with conventional power schemes. Fuel cells have also been established to attain full power of operation with half an hour and their high responsivity (Fuel Cells, 2015). With the use of fuel cells in the production of electricity, only a quester of th e maintenance procedures currently used in convectional power production techniques is required. Apart from the preferred fuel for use in fuel cells which is hydrogen, several other alternatives are present including biogas, coal, propane, methanol, ethanol, petroleum among others. This presents an increased flexibility in fuel requirements and its lack of pollution and noise disturbance increases its suitability as a power production method. Following the flexibility in fuel requirements for use in the production of power using a fuel