Senior Fellow Liliana Rojas-Suarez tells Monocle 24 about the 1994 Mexico Peso Crisis and US bailout, a story that offers possible lessons for current and future crises.
From the episode:
Greece’s creditors may not like it but debt write-offs have succeeded in the past. Monocle’s Steve Bloomfield hears from a campaigner, an economist and a historian to learn why old battles point the way forward to a Greek solution.
"Rubin and Summers were right: the Mexicans... repaid very quickly at a gain to the US government. So the Tequila Crisis itself was kind of a breaking point for the international community to realize that if you're going to be dealing with situations of crisis and you see a point of supporting certain countries, you need to have instruments in place." - Rojas-Suarez
Listen to the episode.
