One day the exchange rate became a problem

The mood has swung very quickly. One week Cristina was the queen of the pampas after a landslide victory on October 23rd, the next she was a plain Gaucha desperately fighting to restore financial stability and introducing foreign exchange controls and involving the AFIP (our IRS) to stop a run on the currency that deepened after the elections.

The current situation has raised a number of questions regarding the future of economic policies and outcomes. How could the government turn into a “mini-crisis” a situation that a priori looked difficult but manageable?  Who is calling the shots?  Is this a deepening of the model? What are the implications for the foreign exchange market, will it remain unify or are there risks that it will be split legally (with two officially accepted exchange rates)?