After the fall of the military dictatorship in 1983, successive democratic governments launched a series of reforms purporting to turn Argentina into the world's most liberal and prosperous economy. Less than twenty years later, the Argentinians have lost literally everything: major national companies have been sold well below value to foreign corporations; the proceeds of privatizations have been diverted into the pockets of corrupt officials; revised labour laws have taken away all rights from employees; in a country that is traditionally an important exporter of foodstuffs, malnutrition is widespread; millions of people are unemployed and sinking into poverty; and their savings have disappeared in a final banking collapse. The film highlights numerous political, financial, social and judicial aspects that mark out Argentina's road to ruin.

Some Argentinians, exiled in Paris, decide to put on a tango-ballet, dedicated to Carlos Gardel, a legendary Argentinian tango star.