Privatisation of Banks in Mexico and the Tequila Crisis
The Mexican programme of bank privatisation in the early 1990s was dictated not just by a desire for distancing government from the running of the economy but also by the need to raise money by selling public assets in favour of a particular fiscal stance. The conflict of objectives entailed in this liberalisation process contributed to the subsequent financial crisis entailing the re-nationalisation of banks after a short period of three years at a cost to the exchequer which was five times greater than the money raised at privatisation.
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