Election Brings Change In Argentina, End To Economic Socialism
Conservative opposition challenger Mauricio Macri won 51.5 percent of the vote in a run-off to defeat ruling party member Daniel Scioli, who garnered 48.5 percent. Macri’s victory marks the end of more than a decade of populist leadership and protectionist policies pursued by outgoing President Christina Kirchner and her husband, Nestor.
Unfortunately for Macri, victory does not come with many spoils as Argentina’s economy is in dire straits and he will need to take immediate action to address the situation, says Wall Street Journal columnist Mary Anatassia O’Grady.
“Recovery has to start with stabilizing the peso, which is pegged at 9.4 to the dollar but trades in the black market at 15:1. Mr. Macri promised to lift all capital controls and let the price of the currency settle in line with its market value. But to achieve stability he will also have to restore the rules of a market economy, and that means putting an end to the practice of printing money to finance the government. Huge deficits—6%-7% of gross domestic product this year—are unsustainable,” she recommended.
Labour Party Leader Calls For Negotiated Settlement In Syria
UK Labour Party leader Jeremy Corbyn is calling for a negotiated settlement in Syria, even if it involves holding open talks with Islamist factions.
“The dreadful Paris attacks make the case for a far more urgent effort to reach a negotiated settlement of the civil war in Syria and the end to the threat from Isis,” he told activists at a regional conference, reports The Clarion Project.
His stance comes at a time when a growing number of Labour Party MPs are expressing their support for a bolder stance, including increased airstrikes, against ISIS.
Countering the causes, not the symptoms, of ISIS
Closing the borders will not defeat terrorism
Uncertainty rules in southeast Asia