In the space of two hours yesterday, the City of London’s Financial Times posted an editorial signed by its Editorial Board, entitled “Argentina’s Perilous Path to Economic Stability,” and a “news” article, “Argentina Struggles To Avoid Economic Collapse after Shock Primary Win.” The message is clear: The FT proclaims editorially that the upset victory on Aug. 13 by neoliberal dollarization fanatic Javier Milei in the presidential primaries, and the poor, second-place showing by Finance Minister Sergio Massa of the ruling Union for the Fatherland coalition, shows that a majority of Argentines are open to accepting a savage free-market program that would rip the country apart. So, it’s open season on the Argentine nation-state, on London’s behalf.
Even amidst the current “gloom,” the London bankers’ rag observes, some investors “remain bullish” about Argentina’s medium-term prospects. “They consider the collapse of the Peronist vote as evidence that Argentines are ready for deep and painful free-market reform.” After all, two-thirds of the electors on Aug. 13 chose right or far-right parties “who want to trim the bloated welfare state, remove artificial exchange controls, halt central bank money-printing and unshackle business.” The FT fails to mention that voter participation in this primary was the lowest ever recorded; 30% of the eligible voters cast no ballots. (https://www.ft.com/content/63313a6c-5fb3-4972-9201-93f46c3d65d2 )
