Argentine stocks crashed nearly 11 per cent yesterday and bonds suffered heavy losses as markets gave the thumbs down to President Cristina Fernández's plans to nationalise the country's pension funds.
Ms Fernández announced her plans to scrap the 10 private funds, which were set up in 1994 and offered an alternative to the state system, and sent a nationalisation bill to Congress, saying it was the state's duty to step in to guarantee pensions for future generations.
