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CNN Saturday Morning News

Argentina Rushes to Fill Power Vacuum After President Resigns

Aired December 22, 2001 - 10:12   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.
KYRA PHILLIPS, CNN ANCHOR: Turning now from the U.S. president to Argentina's presidency. The man who assumed the nation's leadership yesterday will, apparently, be turning over power tomorrow. It's the latest move as the -- as Argentina tries to regroup after deadly riots forced the elected president to resign.

CNN's Lucia Newman has details of the political twists and turns.

(BEGIN VIDEOTAPE)

LUCIA NEWMAN, CNN CORRESPONDENT (voice-over): It took less than three minutes for Argentina's National Assembly to accept the resignation of President Fernando De la Rua. The president of the Senate, Ramon Puerta, automatically took his place, but only until Sunday morning.

After intense negotiations behind closed doors, leaders of the nation's largest political party decided to nominate veteran provincial governor Adolfo Rodriguez Saa as the nation's president until new elections are called on March 3.

The rush to fill the power vacuum left by the former president's humiliating departure is obvious. The nation is still reeling from days of looting, by thousands of impoverished Argentines. And street violence that took at least 26 lives.

While calm returned to the streets of Buenos Aires, outside the outside the National Assembly, a group of demonstrators made it clear they have no allusions about who will take over now. The same politicians, they say, who got Argentina into this mess.

"They don't represent us," says this woman, "they only represent themselves and the pockets they want to fill. As a 77-year-old Argentine, I'm embarrassed. I'm ashamed."

"We won't allow one more cent to paid to the financial sector until there's a solution to the unemployment, the hunger and the problems of health and education that the majority of Argentines suffer," said this man.

The message has not fallen on deaf ears. The new leadership says it will propose a new economic policy that answers to the needs of the majority. And there's consensus that Argentina cannot service its debt commitments and will call for a moratorium, asking creditors for understanding and what they consider a more realistic payment schedule.

(on-camera): Argentine's are growing impatient. So whoever ultimately takes over the leadership of this country will be under strong pressure to deliver the goods or face the threat of the type of popular uprising, which enforced the resignation of Argentina's last president.

Lucia Newman, CNN, Buenos Aires.

(END VIDEOTAPE)

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