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Argentina’s PASO brings shock therapy a step closer

The surprisingly strong showing for far-right self-proclaimed “anarcho-capitalist” Javier Milei in Argentina’s primary elections (known as the PASO) suggests that there is popular appetite for a shock-therapy style approach to deal with the economy’s problems. This might, ultimately, be a good thing for financial markets. But the left-wing ruling Peronists still have a fighting chance, which may lead to a further build-up of economic vulnerabilities in the run-up to the presidential vote in October.  

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