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If 1994 was a black year in the history of modern Mexico, last month could not be lesser degree and go that what happened was the economic misfortune to thousands, millions of Mexicans. All for the ambition of the administration of Carlos Salinas de Gortari (CSG), even today, a cornerstone in the establishment of the Institutional Revolutionary Party (PRI).

As the Federal Government led by CSG discussed in the previous article, throughout 1994, the economy on makeup inject money to international reserves were no devaluation and the Mexican Stock Exchange to continue operating under positive conditions. This allowed a visible but not palpable as real economic "stability".

Colosio's murder should have collapsed the economy but in the foreseeable act, the government ordered closure of operations for two days over the weekend to be crossed. Enough to reassure markets onslaught creating panic and further the plan to inflate the economy time, so it does not fall to the bottom; as inevitably it had to happen.

In addition to the uncertainty created by the Zapatista movement, came another murder that rocked the economy class of the country and led to panic. He is assassinated Jose Francisco Ruiz Massieu who was the leader of the Chamber of Deputies, as a distinguished member of the PRI had been governor of Guerrero. More shock to the financial system of the country, which otherwise would have fallen into crisis.

The economy was destroyed not only by makeup but by capital flight did she know that was impressive and by the indiscriminate opening of borders to goods (trinkets) Foreign who destroyed the local market. So the die was cast, the economy would have to take their true level and would not be rewarding.

December 1st was a change of administration, they were just as new rulers of the PRI militants, but later were included Lozano Gracia PAN as Attorney General. There were cases of characters imposed by CSG to Ernesto Zedillo Ponce de León (EZP) and members of his cabinet, as in the case of Jaime Serra Puche appointed Secretary of Finance and Public Credit. Twenty days later will be the main protagonist of the "error" of that month.

Thus came the December 20, 1994 when the economy dropped to accommodate the true rightful place. Having an indiscriminate importation of products at much lower than here, they led to the bankruptcy of large sectors of the economy that were previously pillars such as cobblers and textileros prices. There was no local market, everything had become cheap imports.

Also, before the change of administration was a capital flight associated with families in the PRI or at least sympathized with them. This caused the last toll on international reserves and makeup worn by the economy throughout the year. There was no defense against the dollar that had been rammed weight since early this year.

The stage was cast: the devaluation of the dollar occurred in the first instance from three to six pesos, and it dawned on the 20th but the statements of Serra Puche, before they opened the financial markets led to such speculation the US currency traded up eleven pesos to finally settle in ten. And the damage was done, would take years for the economy recompusiera the way.

It was called the "error" of December because he was when questioned Carlos Salinas de Gortari on its participation in the devaluation he replied: "It was the new administration that did not know how to do things, in twenty days the country is finished" . When the truth was that the transition team EZP never had access to all financial information until December 1st. Among PRI are also jackals.

The problem is that this "mistake" made throughout 1994 not only brought misery to the country but generated an effect called "tequila" that damaged the economies of Latin America, the United States, Canada and several Asian countries with which we had business. That is the ambition PRI affected a quarter of the world's countries no matter a damn.

To alleviate the crisis, the Chamber of Deputies devised a plan that obviously raising taxes for the general population, there passed the VAT of 10% to 15% and the income tax, the tax base was expanded to two minimum wage. When this initiative was approved by the last legislature with a majority of the PRI, it was that Roque Villanueva (the cameral leader) made his famous landmark arms folded showing how he had caught all Mexicans.

It also generated a major looting that has received the Mexican nation: FOBAPROA (Bank Fund for Savings Protection). The "error" December brought a total lack of liquidity in the country, economic activity almost came to a standstill; This led to an impossibility to pay loans, credit cards, mortgages and so on. People were out of work, without decent wages and debts up to his neck.

Thus the NPLs which was the basis of the Fobaproa, which swelled thanks not only to the indiscriminate embezzlement of public coffers but illegal loans to banking institutions that were never pursued judicially, the contrary case canceled the debt and paid arises. Impunity for those who looted the treasury of the nation and loss of home, car, business for the bulk of debtors who could not pay for the economic crisis.

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