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Brazil & Southern Cone - December 2011 (ISSN 1741-4431)

All praise

The inaugural speech delivered by President Cristina Fernández on 10 December when she swore in for her second term in office contained no surprises. Fernández repeated her usual praise for ‘the model’, citing its accomplishments and neglecting to recognise any shortcomings. For the opposition, the president’s conspicuous failure to touch on inflation (see page 6) was a major shortcoming and it was taken by several opposition leaders as proof that her recent call for ‘fine tuning’ [WR-11-47] of the model will be difficult to deliver in practice. The opposition calculates that Fernández’s leading cabinet members, such as the domestic trade secretary Guillermo Moreno, will be incapable of changing their interventionist ways or of ‘fine tuning’ the model with small and incremental policy changes, rather than big and drastic bombshells .

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