[Congressional Record Volume 141, Number 6 (Wednesday, January 11, 1995)]
[House]
[Page H187]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1140
                THE MEXICAN CRISIS AND ITS IMPLICATIONS

  (Mr. ROTH asked and was given permission to address the House for 1 
minute.)
  Mr. ROTH. Mr. Speaker, just a few months ago Mexico was touted as the 
place to invest. NAFTA was passed to foster trade and economic 
integration with Mexico. Now Mexico is in crisis. The peso is dropping. 
Their stock market is falling. Interest rates are shooting upward, and 
the economy is facing collapse.
  The implications for us are enormous. American investors in business 
face huge losses. The American taxpayer is liable for $9 billion in 
emergency loans and much more. Like it or not, our economy is linked to 
Mexico, because they are our largest trading partner.
  But before we get in any deeper, the American people and this 
Congress must understand clearly what the situation is and what our 
liabilities are. As chairman of the International Committee on Policy 
subcommittee, my goal is to conduct a full-scale examination of this 
crisis and the United States role in rescuing the Mexican economy and 
its implications for the American taxpayer.


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