World

6 questions with ‘No Reserve’ author Martín Redrado

Jamie Weinstein Senior Writer

Martín Redrado is the author of “No Reserve: The Limit of Absolute Power,” set to be released January 11.

Redrado, the former president of the Central Bank of Argentina, recently agreed to answer 6 questions from The Daily Caller about his book and other topics of interest:

1. Why did you write the book?

My book, “No Reserve,” explains the political nuances in an emerging country, which happens to be Argentina. This story gives the reader a better understanding of how the developing world works in business and politics.

2. Give us a brief summary of what the book is about?

“No Reserve” is a look into the dangers of mixing political power and economics in an emerging country. The book exposes the peculiarities of public life and reveals how I helped lead my country out of the 2008-2009 global economic crises.

Through the independent policies of the Central Bank, Argentina was able to overcome, for the first time in decades, a history of cyclical breakups. At the beginning of 2010, when I was asked to cover the costs of public spending and out-of-control national debts, my tenure was over. Determined, and loyal to my country, I began a fight against financial corruption. I explain emerging world markets, tenets of central banking, and how governments can cause and avoid financial crises.

3. Why should Americans be concerned about what happens in Argentina?

Argentina is the third market in Latin America after Brazil and Mexico. Most importantly, this story provides deep insight into how to deal with any emerging economy. Growth in this decade is coming from Asia and Latin America so a better political understanding will make Americans more knowledgeable in their relations with these countries.

4. Outside of the Middle East, according to the Pew Global Attitudes poll, Argentinians consistently hold among the most negative views of America. Why do you think that is?

There is a lack of understanding in both countries of our idiosyncrasies, and our different approaches to confront our problems. We try to explain our bilateral relations through local and somewhat ideological prisms.

5. What are the three books that most shaped your worldview?

Presidential Power by Richard Neustadt, Soft Power by Joseph Nye and “Human Capitalism” by Jacques Maritain, are the three books that made a strong impact in my political views and my approach to international relations.

6. What is your view about Hugo Chavez in Venezuela?

Hugo Chavez leads an authoritarian regime, which does not allow the country to realize the potential that Venezuela has. However, we need to integrate this important country with the rest of South America in generating a comprehensive regional energy policy.