Monday, July 03, 2006

AMLO saying the right things

Lat night at 11:00 PM, the President of IFE, Luis Carlos Ugalde, did the most honest and courageous thing he could: he announced that quick ballot counts could not be relied upon in this election to project the winner, and that the Republic would have to wait for the complete count of the ballots.

Immediately, the TV covereage switched to the Zocalo and AMLO spoke. Although he claimed that he was ahead in (some unofficial, private) vote count by 15,000, he reaffirmed that he has no hatred for his opponents and that he will abide by the laws of the country, and if he is defeated by a single vote, he will accept that.

On June 29 he explained his economic policies to El Financiero, ¨In a few words, there will be a technical management, no economic ideology. Our formula for financing development does not require contracting debt or adding taxes¨(my translation).

The bond market fell last week in anticipation of an AMLO victory (or disruption in the wake of an AMLO defeat). This morning the BOLSA rallied because Calderon has a slight lead, and AMLO seems willing to accept defeat if the numbers go against him, or at least not be an enemy of international finance if he does in fact pull out a victory.

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