Argentina By Maygen.ulrich 1438 The rise of the Inca Empire in Peru which expands to inhabit a small portion of northwest of Argentina. 1536 The first settlement in Argentina is established by Pedro de Mendoza. It would later become Buenos Aires 1810 The May Revolution occurs in Buenos Aires. The Argentine War of Independence begins. 1816 The independence of Argentina is formally proclaimed, dropping any pretence of remaining loyal to the Spanish king 1820 The newly independent republic of Argentina takes possession of Las Islas Malvinas (the Falklands) 1864 Argentina joins Brazil and Uruguay in the War of the Triple Alliance against Paraguay. 1880 Buenos Aires is finally accepted as the permanent capital city of Argentina 1929 The Great Depression hits Argentina. 1944 Argentina joins the Allies and declares war on Japan and Germany. 1954 Isolationism and high inflation ruin Argentina's economy. 1982 5000 Argentinian troops land in the Falkland Islands, provoking war with Britain 1989 Carlos Menem is elected president of Argentina and introduces a free market economy