The coup d'etat on 24 March placed the military in command yet again in Argentina, but it didn't solve the question of which way forward for capitalism in Argentina?' The economic situation seems to have improved superficially-there has been a certain decline in the rate of inflation, although it is estimated that this will still reach 700per percent this year. But in fact the 'austerity' policy imposed by the Economy Minister, Martinez de Hoz, is now threatening to lead to a rather drastic slump.
The recession has thrown Argentina's car industry into chaos, with those plants which have not closed down operating a reduced working week. Car sales have dropped by 41 per cent since the coup, the sale of household appliances has dropped by 65 per cent, and argicultural chemicals by 89 per cent. Hand in hand with this goes a rapidly accelerating unemployment rate, some of which as quite denverate as un une case of the 120,000 public employees sacked so far.
STABILITY The dictatorship is naturally looking to imperialism for a solution to this economic crisis, but according to the Financial Times, foreign investment seems to be holding off, waiting for some sign of stability from the Videla regime'. The junta has managed, however, to re-finance much of the foreign debt and obtain a substantial loan from the International Monetary Fund, in spite of the threatening collapse of the internal market and the steady decline in exports. BUTCHER After successfully finding credit with US imperialism, Martinez de Hoz is now busy looking for similar support in Europe. Last week he was in Britain, where he raised about £34m in medium-term loans from the London capital market. During his stay, Labour Chancellor Healey gave a special lunch at the Treasury for this emissary of the junta, who follows in the footsteps of the Brazilian President Geisel. No doubt the Chilean butcher Pinochet is next on the Government's guest list!
The economic plan which is a precondition for the support by the IMF and European bankers entails an increasing burden on the working class in terms of unemployment, lower wages, and a perilously low standard of living for the Argentine masses. The workers movement will not submit to this plan quietly, and last month's important strikes in the car industry have been followed by a series of actions such as go slows, industrial sabotage, etc.
The inter-factory coordinating committees which were formed during last year's general strike are re-emerging and acting as a , 7 replacement for the CGT (TUC) in many industries and districts. In the centre of this struggle to recompose the workers movement and build resistance to the dictatorship are our comrades of the PST (Socialist Workers Party), sympathising organisation of the Fourth International, which was one of the first groups banned after the coup.
DISGUISE Today it is clear that the Videla Government has dropped the "democratic" disguise which it originally adopted in the hope of FREE 20 000 + POLITICAL PRISONERS Argentina Solidarity Movement picket lunch given by Healey for Martinez de Hoz to do three things:
DOWNING STREET SWI ..... avoiding the international isolalation suffered by Pinochet in Chile. There are more political prisoners than in Chile, several concentration camps, and widespread torture, kidnapping and murder, which are all part of a systematic attempt to hunt down political and trade union militants The PST in particular is suffering heavy blows under the repression, especially on its shop steward and other trade union militants. We therefore ask Red Weekly readers (1) The PST is in urgent need of finance to help maintain the organisation and its press in clandestinity, and you can send money to the Red Weekly offices marked PST for this purpose (2) You can work for the defence of its prisoners, some of whom are mentioned below (more details available from Red Weekly). Send petitions from your trade union branch, student union or Labour Party ward to the Argentine Embassy (49 Belgrave Square, London S.W.1) and send a copy to these militants: *Jose Francisco Paez -Unidad Penitencaiaria No. 1., Colombres 1300, Cordoba * Analia Di Giovanni and Jorge Sprovieri-Carcel de Azul, Casilla de Correo 67, Azul, Buenos Aires *Luisa Segura-Pabellon 41, Planta 6, Bermudez 2651, C.F., Buenos Aires.
(3) Urge your organisation to affiliate to the Argentina Solidarity Movement, 1 Cambridge Terraces, London NW1.
Mario Roberto Santucho, leader of the PRT/ERP (Workers Revolutionary Party-Peoples Revolutionary Army) was murdered together with four comrades on Monday 19 July by the Argentine army. Regardless of our differences with the PRT over its militaristic strategy, there is no doubt that the Argentine revolution has truly lost one of its most heroic and dedicated leaders in Santucho, who symbolised the rise of a combative workers vanguard in the struggles which followed the Cordobazo of 1969.
SANTUCHO VIVE! HASTA LA VICTORIA SIEMPRE!
Committee for the congressional
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NO AID FOR ARGENTINE