Argentina, the usual Latin American-black sheep of the world had better, “point to the origin of psychosis,” but it was left out. Mexico and Brazil have their economies healthy enough after 2002, so the contagion effect of the Argentine financial problems are fairly limited. As Asian countries, which fear is that the slowdown in the U.S., do these countries mostly exporters, to export less, entering probably in recession. What would real slowdown in their economies, but would not affect the financial health and to Korea and Singapore have positive current account balance (ie are illiquid).

Also, the International Monetary Fund (IMF) approved an emergency credit line from three to nine months for certain countries, and Argentina was once again outside. Is that Argentina since 2006 does not allow the country’s accounts are audited. These loans are not associated with interference in macroeconomic policies in these four countries, as it must undergo other countries such as Hungary, Ukraine and Iceland. Iceland to receive funds has been forced to raise interest rates 6 points to 18% to stabilize its currency, which was destroyed after its banks fell.

The same policies of the past. “They have used the same vocabulary they used in past crises: that we need to restore confidence,” said the creditor of the Nobel Prize in Economics and staunch critic of the IMF, Joseph E. Stiglitz. “It restores confidence, simply leads to more bankruptcies.” The South Korean government has said it will not accept the loan, according to the New York Times. The memories of the Asian crisis are still alive in many minds, the IMF forced Korea, among others, to increase interest rates sharply.