Mexico takes 3 big steps to right financial problems

Mexico's new government took three big steps in 24 hours last weekend to tackle the nation's financial crisis: a relaxation of exchange controls, an austerity budget, and a request to reschedule its foreign debt.

Finance Minister Jesus Silva Herzog, formally presenting the budget to Congress Saturday, said, ''We are talking about a complex operation, probably the most complex individual financial operation undertaken in the financial history of the world.