{"id":233056,"date":"2021-01-14T07:59:28","date_gmt":"2021-01-14T12:59:28","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=233056"},"modified":"2021-01-14T07:59:28","modified_gmt":"2021-01-14T12:59:28","slug":"aftershocks-of-the-earthquake","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/opinion\/columns\/counterbalance\/aftershocks-of-the-earthquake\/","title":{"rendered":"Aftershocks of the earthquake"},"content":{"rendered":"

If anyone ever doubted the telluric nature of the exchange rate and monetary unification, this week, the first after the famous <\/span>Day Zero<\/span><\/a>, has been enough to show how intense the earthquake is and will continue to be. If the aspiration is to produce the effects that a devaluation should produce in the real economy, well then, it will be necessary to prepare for the many aftershocks that have yet to appear and that will necessarily occur. What is happening today in the economy and society, and even the way in which people begin to perceive the advantages and disadvantages of the happiness of living with a single currency, affects the pocket, the stomach and the mind. And they do so with a depth never seen before.<\/span><\/p>\n

The \u201cintensity of the earthquake\u201d is associated with many factors, but there is one that should be highlighted. Currency distortions are not the product that dollarization was adopted one day, back in the 1990s. They come from further back, since our country kept the exchange rate of the CUP with the US dollar unchanged, something that happened in the early sixties. They also go back to the fact that the tax system was charged with the task of absorbing the created distortions.<\/span><\/p>\n

In those times, and thanks to the fraternal and solidary help of the Soviet Union, the distortions could be assimilated \u201cpainlessly.\u201d That generated a \u201cspecial\u201d way of doing and thinking the economy, which, although it may seem incredible, even in some cases and in some minds, accompanies us. That story, no matter how much it is told, is already impossible to change, just as its consequences cannot be changed. But it is always good to put the earthquake in context.<\/span><\/p>\n

It is true that the reorganization train started running, it is true that stopping it would be more expensive, but, to continue with the analogy, it is also true that the track on which it is traveling is not in good condition.<\/span><\/p>\n