The protest was triggered by the closing of RR Donnely. The American printing company, which had a presence in the South American capital for twenty years closed following Argentina’s second financial meltdown in a little over a decade.
The default has resulted in inflation hovering around 38% and many small busniesses have closed their doors.
Economists report that 11 percent of Argentines currently live at, or below, the poverty level. The economists feel there is good reason to believe those living in poverty in South America’s second largest country will hit 40 percent before the end of the year.
Following the lead of Argentine President Cristina Kirchner, the protesters at the embassy blamed America and the “vulture” funds for the economic problems at home. Kirchner has continued the monologue that she started a little over a year ago, blaming everyone, and everything, for the country’s current financial problems.
Argentina, which was the 6th largest economy in the world as recently as the sixties, has been unable to shake off the the evil twins of Peronism, which has created a cancer on the country’s economy. The military dictatorship from 1976 – 1983 also took its toll on the Argentine psyche.
The latest round of protests happened on the same day that Kirchner spoke to the United Nations in New York begging the organization to understand the Argentine woes