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CNN Live At Daybreak

Argentine President Resigns in Wake of Protests

Aired December 21, 2001 - 05:16   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 president is leaving his country in turmoil and billions of dollars in debt. He hoped that his resignation would bring some peace to the country.

But as CNN's Lucia Newman reports, peace will not come without prosperity.

(BEGIN VIDEOTAPE)

LUCIA NEWMAN, CNN CORRESPONDENT (voice-over): It was the culmination of months of uncertainty and unrelenting economic collapse. A once proud nation brought to its knees by a recession and an unpayable foreign debt. President Fernando De la Rua called on the opposition to form a government of national unity in order to rescue the nation from despair and economic ruin.

PRESIDENT FERNANDO DE LA RUA, ARGENTINA: My hope is that we will avoid worse things happening. I will not permit violence to take over our country because I am here to ensure peace and everybody's rights. And this is why I am appealing people to let down their violent attitudes.

NEWMAN: But De la Rua's plea was rejected. Without support and with a mounting popular uprising on the streets of Buenos Aires, the president was all but forced to resignation after only two years in office. Even as the president was stepping down, rioters continued to clash with police. Scores were arrested and more than 20 people were reported killed in the unprecedented violence.

President De la Rua says he stepped down in order to bring peace to the country and while relative calm did return to the capital, as protesters celebrated, it's clear that what people want most is an end to their impoverishment.

UNIDENTIFIED ARGENTINE: I'm very satisfied. Completely happy. It was time, time because the people here were really hungry. It's not true that there are people aggravating this situation. It's really all about the people. I know that this will benefit us all.

NEWMAN: More than a change in government, they say that what they need is a change in economic policies so that they can work and feed their families. This as the country edges closer to what would be the world's biggest ever debt default.

President De la Rua's departure, however, leaves his nation in even greater uncertainty.

(on camera): While the president of the Senate takes over for now, there's no obvious successor to President De la Rua in a country whose political parties have been tainted by corruption and ineptitude. As one observer put it, it's like a broken glass, difficult, if not impossible, to mend.

Lucia Newman, CNN, Buenos Aires.

(END VIDEOTAPE)

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