Abstract

The classical concept of financial crisis is compared to the characteristics of the present crisis, pointing out its different aspects. The analysis focuses on the foreign debt and the conditions for its continuity, the link between the direction of the crisis and domestic policy and the international financial situa-tion and its own crisis. In terms of Latin America, after analyzing the specific characteristics of some of the most important national economies, the possibili-ties and advantages of a joint renegotiation of the debt are discussed. This is an alternative, which calls for a certain degree of audacity, which in fact corresponds to the audacity of international finance capital in its response to eventual crisis.