Andrew Clem home
Andrew Clem banner

Blog post

Monthly archives
(all categories)

June 26, 2007 [LINK / comment]

Political setback for Kirchner

Elections for mayor were recently held in Argentina, and President Nestor Kirchner suffered a major embarrassment when the candidate he endorsed in the capital Buenos Aires lost by a 61 to 39 percent margin. The victor was Mauricio Macri, a member of congress who runs the soccer club on which Diego Maradona used to play. Opponents of Kirchner hope that Macri can serve as their leader as the October 28 presidential elections approach. The loser was Education Minister Daniel Filmus. Kirchner has gained a reputation for his political acumen, but staking his reputation on a candidate who attracted so few votes raises big questions about his judgment. See

I underestimated Kirchner when he first took office in May 2003, but over the past four years he has managed to take full credit for Argentina's strong economic recovery. After the government defaulted on much of its foreign debt in late 2002, it was punished by the IMF and was condemned private banks, but in the end didn't really pay a heavy penalty. Because of widespread insurance coverage and the custom of bailing out creditors whose loans to sovereign states go bad (e.g., Mexico in 1995), the larger countries in the developing world can usually get away with it. In effect, Argentina robbed the wealthy industrialized nations by extorting a forcible "loan."

Posted (or last updated or commented upon): 26 Jun 2007, 9: 49 PM

(unformatted URL)

This post is over a week old, so comments are closed.

© Andrew G. Clem. All rights reserved. Your use of this material signifies your acceptance of the Terms of use.

Hits on this page (single blog post) since July 2, 2007:

Category archives:
(all years)

This (or that) year's
blog highlights

NOTE: Thus far, only blog posts related to politics and baseball are included in this list.

Blog highlights have been compiled for the years 2010-2012 thus far, and eventually will be compiled for earlier years, back to 2002.


The "home made" blog organization system that I created was instituted on November 1, 2004, followed by several functional enhancements in subsequent years. I make no more than one blog post per day on any one category, so some posts may cover multiple news items or issues. Blog posts appear in the following (reverse alphabetical) order, which may differ from the chronological order in which the posts were originally made:

  1. Wild birds (LAST)
  2. War
  3. Science & Technology
  4. Politics
  5. Latin America
  6. Culture & Travel
  7. Canaries ("Home birds")
  8. Baseball (FIRST)