Argentinean President Mauricio Macri is up for re-election this year. Although his country is still in a recession due to the strict reforms he has introduced, international investors were once again looking with a more friendly gaze towards the major South American nation, mostly due to Mr Macri’s efforts and his obtained IMF loan.
Until last week that is. As from the moment former President Cristina Kirchner unleashed her detail-ridden biography onto the unsuspecting Argentineans, all was well. But then ‘Sinceremente’ (or Sincerely) happened, causing an outpouring of populist leftwing sympathy for the former scandal-ridden female President. So much so, that markets started to sell off as a result. Bookshops registered long lines of Argentinean women eager to read what all the fuss was about and what exactly happened during all those Presidential scandals and rumored liaisons.
By now the book has sold out, the market has sold off and a popularity contest between Ms Kirchner and President Macri has been decided. A major Argentinean newspaper asked over the weekend whether the recession hardened countrymen would prefer a continuation of the scandal-free Mr Macri or the passion of Ms Kirchner.
To the horror of international investors, it was found that Ms Kirchner could win easily.
In the above video, Argentineans are asked whether they would buy the book. Their response was quite unilateral. ‘Yes, because anything ‘Cristina’ is better than this government.’
Ms Cristina Kirchner has not even announced her candidacy for another run at the Presidency just yet, but if she does, expect further market meltdown.