The severe defeat suffered by Mauricio Macri in Sunday's elections, shattering the polls, leaves Argentina one step away from the return of Peronism. The candidate of this current, Alberto Fernández, agglutinated 47% of the votes, compared to 32% obtained by the Argentine president. It is an overwhelming result that forces Macri to an urgent reaction if he does not want to be evicted from the Casa Rosada by Fernández and his candidacy partner, former president Cristina Fernández de Kirchner. Both start now as favorites for the final election of October 27. The Peronist resurrection is a terrible news. First, because it would involve Argentina, once again, to misgovernment, institutionalized corruption and waste. Second, because it would add an element of uncertainty in Latin America. And third, because it would lead to an economic catastrophe . In fact, the peso lost more than 20% of its value and Argentine stocks sank yesterday on Wall Street. The threat of suspension of payments appears on the horizon, which would have lethal effects for Spanish companies.

Although they are formally elementary to elect presidential candidates, in practice, Sunday's vote can be interpreted as a first round of elections. Hence the alarm signals have been lit in most capitals except in Caracas. Nicolás Maduro aspires to the support of Buenos Aires if there is finally a change of government . In addition to the dire consequences that would entail in the macroeconomic sphere, the return of Peronism would not only delve into the social fracture between Argentines - divided between Kirchnerists and anti - Kirchnerists - but would also contribute to destabilizing a continent hit by the State theft of populism. It should be remembered that former President Fernández de Kirchner was prosecuted for corruption in 13 cases and carries seven orders of pretrial detention she has eluded thanks to her immunity as a senator.

Macri has enjoyed the backing of Washington, the IMF and the markets, but his mandate has been marked by the adoption of severe adjustment measures. Its economic policy was unavoidable in a country in bankruptcy after decades of Peronist regime. However, galloping inflation and the effects of the recession have punished the Argentine president . Their options to overcome pass by adding support among voters who have now opted for other liberal candidates, such as the former Lavagna minitro. It would be disastrous for the global order and economic stability that Argentina fall back into the well of Peronism.

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  • Argentina
  • Nicolás Maduro
  • Mauricio Macri
  • IMF
  • Argentina Elections
  • Editorial

ImpressionGlobal governance: Spain in the institutions

OpinionYes of Strasbourg to governance

Thoroughly positive view of Europe (for a change)