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DECEMBER 1, 2001

Premier's Argentine dream in trouble

PLANS by the new Premier 1 Grand Prix circus to visit Argentina sounded interesting but the financial troubles in Buenos Aires look increasingly likely to halt the idea - even if the series does get off the ground.

The Argentine economy has been in a mess for some time but in recent days there has been a run on the peso as Argentines have tried to get their money out of banks for fear that their savings will be frozen and turned into bonds - as happened in 1989. The country is struggling to pay interest on its $132bn national debt.

Formula 1 stopped visiting Argentine because the economic situation could not support the event.