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CNN Live At Daybreak

People in Argentina Demonstrate Outside Presidential Palace

Aired December 20, 2001 - 06:49   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CATHERINE CALLAWAY, CNN ANCHOR: Argentina's financial crisis is moving from the banks to the streets now. The government declared a state of siege in an effort to end the looting and the riots going on there.

And as CNN's Lucia Newman reports, some top jobs may now be on the line.

(BEGIN VIDEOTAPE)

LUCIA NEWMAN, CNN CORRESPONDENT: The response of thousands of Argentines to the government's decision to declare a state of siege was to go out into the streets banging pots and pans and demanding the immediate resignation of the president and especially of his unpopular economic minister Domingo Cavallo.

People were infuriated, but it was a spontaneous demonstration. Thousands of people in front of the presidential palace complaining about the economic situation, complaining about what they call the lack of political leadership in this country. And by and large, it was very, very peaceful. A few people, however, seemed to be agitating. And suddenly, police apparently had had enough and they started firing tear gas, running at some -- at the crowd with their batons. People ran, they panicked, some children fell, there were people injured, and this only infuriated the crowd even more.

By late evening, there were fires all around the downtown area near the presidential palace, some looting, a lot of discontent with thousands of people still out on the street demanding the resignation of the government. There is word that the president and his cabinet are meeting in an emergency session. There are strong rumors that the economy minister, Domingo Cavallo, may be resigning, but there is still no official confirmation of that yet.

Lucia Newman, CNN, Buenos Aries.

(END VIDEOTAPE)

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