The Corner

International

Argentina, Soccer, and Devaluation

The Argentinian peso has been on a long, miserable slide over the last five years. The most accurate indicator of what it is worth, the informally traded “blue dollar,” currently trades at around 720:1 with the U.S. dollar compared with 37:1 five years ago.

Argentina is also famously wild about soccer.

And, so, via the BBC:

Argentina has announced it will punish foreign football fans who burn or tear up bank notes while attending matches in the country.

The practice has become a common way for fans of clubs from elsewhere in South America to taunt home teams about the value of the Argentinian peso.

The country has been in economic difficulty for years with soaring inflation.

Fans caught tearing up a peso bill will face up to 30 days in prison

Tearing up money as a provocation has been used in particular by fans of clubs from Brazil and Chile.

Argentina’s Agency for the Prevention of Violence in Sport said the practice violates existing laws that prohibit “incitement to quarrel” at a sporting event and “provocations that will disturb public order”, local media reports.

Offending fans will be detained by local law enforcement and their clubs may also be punished if the problem persists, the body said.

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