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The Day After AMLO’s Sweeping Victory, Trump Calls, Bolsa Slumps


Photo: em360

By RICARDO CASTILLO    

Mexicans have yearned for “the day after” the July 1 presidential elections since the process kicked off officially last Dec. 14. The good news is, the day after and subsequent days are finally here.

Election victor Andrés Manuel López Obrador (AMLO) had even talked about Monday. July 2. as a day to take it easy, relax, spend with the family and get ready for the transition fray starting on Tuesday, July 3, (today), when he’s slated to have his first face-to-face meeting at the National Palace in downtown Mexico City with, as of now, lame duck Mexican President Enrique Peña Nieto.

But there’s no such thing as a day off for the future president of Mexico. The day after his victory, he was forced to announce on Twitter – in Spanish – the following:

“I had a phone call from Donald Trump and we chatted for half an hour. I proposed to him that we explore an integral agreement of development projects that would créate jobs in Mexico, and, by that means, reduce migration and improve security. We treated each other respectfully and our representatives are set to start talking.”

So first it was Trump and later Peña Nieto. Ouch, Peña Nieto!

But not all was roses. The Mexican Stock Exchange reacted with a cold welcoming by slumping by 2.12 percent – a plummeting of over 850 points in the board index – and the peso-dollar exchange, which Sunday night had gone down to 19.61 pesos per dollar, bounced back to over 20 pesos by noon Monday.

Let’s face it: The Bolsa drop was not a brutal one; we’re experienced worse. But exchange rate instability only shows that the financial world is welcoming AMLO’s future presidency with a jittery reaction.

But definitely “The Day After” celebrations are continuing as the political coalition headed by AMLO’s political party National Regeneration Movement (Morena) and seconded by the Labor Party (PT) and the protestant-conservative Social Encounter Party (PES) are gearing up to take up control not just of the presidency, but of both houses of the Mexican Congress.

Confirmation of congress control will come Wednesday night when the National Electoral Institute (INE) make the announcement of the final tally of the entire vote, the largest to date in Mexican history.

The big news is that AMLO’s three-party coalition victory Sunday also includes four state governorships, including in Chiapas, Tabasco (with 65 percent of the vote), Veracruz and the cherry on the cake, Mexico City.

At the three-party coalition For Mexico at the Front, made up of the conservative National Action Party (PAN), the leftist Democratic Revolution Party (PRD) and the Citizens’ Movement (MC), the militants are now busy establishing damage-control norms as most definitely they will be second fiddle in the upcoming congress. Their losses were considerable.

But the real outright day-after hangover is being experienced by the All For Mexico coalition, composed of President Peña Nieto’s own Institutional Revolutionary Party (PRI), the Green Party (PVEM) and the New Alliance Party (Panal), which is sinking so low that at this writing it still hasn’t  seeb the bottom of the pit.

Of course, this is not the first time the PRI has sunk down to third place in Congress. but definitely there are sour grapes at the PRI headquarters, where everyone is blaming Peña Nieto of making all the wrong moves (and appointments of his buddies without any electoral experience to run an election) to which voters resoundingly rejected.

Then there’s the president himself. His “dauphine” candidate, José Antonio Meade Kuribreña, could not even garner sympathy – never mind votes. Meade’s defeat is being interpreted as Peña Nieto’s mishandling of the economy and, of course, his pampering of a whole bunch of corrupt officials in his administration.

The “day after” is now gone. but for sure as of now president-elect AMLO will continue managing his timing the way he did his campaign:

One day at a time.

 

 

 

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Categories: Mexican politics, Mexico, Mexico-U.S. relations, OpinionTags: , , , , , , , , , , , , ,

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