Argentine central banker admits contagion effect

ARGENTINA - Aldo Pignanelli, the president of the Argentine Central Bank (BCRA), said Friday that the Argentine crisis, which has been dubbed the "tango effect", has spread to Brazil and Uruguay, adding that the local banking and foreign exchange system has begun to stabilize.

"If we go by what has happened during the last 70 days, the Argentine market is starting to have a stability which many did not think we were going to achieve at this point in the game," Pignanelli said.

As for the court

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