Word: presidental
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Argentina's President Cristina Fernandez is known for speaking her mind. Last week the controversial leader accused her own Vice President Julio Cobos of plotting to destabilize Argentina and cause the fall of the government to further his own ambition. "Cobos wants to become President before 2011," Fernandez said in...
The President's Cabinet chief and most trusted aide Anibal Fernandez (no relation) expressed his boss's dislike for Cobos more bluntly two days later: "Cobos cannot be trusted with the management of public affairs. The Vice President has become Cobos Iscariot." The President's supporters are concerned Argentina's...
What seems to have particularly infuriated the President and her supporters is Cobos' attempt to mediate in the standoff between the president and Argentina's autonomous central bank, which has refused to hand over $6.6 billion that the cash-hungry government says it needs to pay off foreign creditors. Opposition...
Many Argentine economists believe the central bank reserves are the only safe bulwark against a spike in inflation and potential economic collapse. Cobos, who says the assets cannot be transferred without consulting Congress first, has repeatedly denied the charge of conspiracy. "If there's any conspiracy it's against the...
Cobos belongs to Argentina's middle-of-the road Radical Party, which lost its role as the counterbalance to the populist Peronists when Argentina's dual-party system broke down following the downfall of the disastrous Radical administration of President Fernando de la Rua in 2001. Economic collapse and social...