 Following Perón's death and his replacement by his wife, Vice-President Isabel Perón, he was appointed Federal Interventor of Mendoza Province (1974–1975), and as Ambassador to the European Economic Community and Belgium (1975).Cafiero was appointed Economy Minister in August.He grappled with the aftermath of the June 1975 "Rodrigazo" (economic shock treatment enacted by a predecessor) with no success, and he was dismissed in February 1976, serving briefly as Ambassador to the Holy See until the March 1976 coup.