Argentina seems to feel uncomfortable with a weak leader. In the current democratic period starting in 1983, two presidents, both of them Radicals facing deep economic woes, were forced to step down early after losing their congressional majorities. In 1997 Carlos Menem, a Peronist, lost his majority, but he survived by cultivating good relations both with the opposition and the provincial governors. That has not been Ms Fernández’s way. Argentina is now again in recession. Partly because of drought but also because of punitive taxes, it may have to import wheat next year for the first time since records began. The next two years may be rocky.
This week the president was characteristically haughty and defiant in a defeat she refused to recognise as such. Mr Kirchner gave up the leadership of the Justicialist (Peronist) Party, but turned it over to an ally. The health minister resigned, as officials belatedly accepted the severity of swine flu in Argentina, which they had resisted doing before the vote. There were signs of a wider cabinet shuffle, though not necessarily of policy changes. His offer of talks seemingly spurned, Mr de Narváez complained: “The government is autistic, removed from reality.”
The new Congress will not assemble until December. Even then, the president could rule by decree. Opponents want the government to fire those responsible for doctoring economic statistics, and to cease its harassment of the private sector. The risk premium on Argentina’s bonds has fallen by more than three percentage points over the past month. The opposition still has much work ahead. The Radicals need to rebuild their weakened party machine. And the Peronists need to rally round a new leader. But the Kirchners’ dreams of alternating in office for another decade are over.
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