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Breaking the bonds Juan Carlos Fábrega, the governor of Argentina’s Central Bank, resigned in the wake of a vituperative speech by President Cristina Fernández de Kirchner, in which she accused him of acting in concert with the banks to weaken the currency. Mr Fábrega was regarded as a pragmatist in an administration that is short of them; his successor, Alejandro Vanoli, is a loyalist. With reserves dwindling, inflation rising, the peso under pressure and foreign capital markets still out of reach after the default in July, the removal of Mr Fábrega adds to the sense of an economy adrift.
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