O'Neill plays down Argentine contagion risk-report

UK - U.S. Treasury Secretary Paul O'Neill sees little likelihood of contagion spreading to other emerging market economies as a result of Argentina's financial crisis, the Economist magazine reported.

The London-based magazine quoted O'Neill as saying in an interview that countries with close links to Argentina, such as Brazil, would be affected but that generalised contagion was unlikely.

"There's not the horrific movement (in financial markets) that feels like a wild fire out of control in

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