The 1994 economic crisis in Mexico, widely known as the Mexican peso crisis or the Tequila crisis, was caused by the sudden devaluation of the Mexican peso in December 1994.
The impact of the Mexican economic crisis on the Southern Cone and Brazil was labeled the "Tequila effect" (Spanish: efecto tequila).
Read more about 1994 Economic Crisis In Mexico: Precursors, Financial Assistance Package
Famous quotes containing the words economic, crisis and/or mexico:
“The Federated Republic of Europe—the United States of Europe—that is what must be. National autonomy no longer suffices. Economic evolution demands the abolition of national frontiers. If Europe is to remain split into national groups, then Imperialism will recommence its work. Only a Federated Republic of Europe can give peace to the world.”
—Leon Trotsky (1879–1940)
“Computerization brings about an essential change in the way the worker can know the world and, with it, a crisis of confidence in the possibility of certain knowledge.”
—Shoshana Zuboff (b. 1951)
“Is this what all these soldiers, all this training, have been for these seventy-nine years past? Have they been trained merely to rob Mexico and carry back fugitive slaves to their masters?”
—Henry David Thoreau (1817–1862)