Word: zedillo
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Right now it would be hard to make a case for consistency. Only five days after sending troops and tanks to occupy 18 villages in Chiapas that had been controlled by Zapatista rebels, Zedillo abruptly called off the offensive. He ordered the soldiers to do nothing that might lead to shooting, suspended efforts to catch rebel leaders for whom he had caused arrest warrants to be issued and offered the Zapatistas amnesty and political negotiations if they would lay down their arms. He even went along with one of the rebels' prime demands: the resignation of Chiapas Governor Eduardo Robledo...
...elections in Jalisco and its capital city of Guadalajara showed Zedillo in a better light--because his party lost by a landslide. After more than 60 years of control at all levels of Mexican politics by the Institutional Revolutionary Party (P.R.I.), Zedillo has pledged to lead the country toward a real pluralistic democracy. To make good, Zedillo must show that the P.R.I. will allow honest elections and abide by the results. The P.R.I., in other words, can win back public confidence only by losing a few important elections. Many party reformers quickly resigned themselves to the victory--by more than...
...winners in Jalisco support some aspects of Zedillo's economic belt-tightening program. Nonetheless, some Jalisco voters turned against the P.R.I. in part because of dismay over the nation's financial crisis. Since the December devaluation of the peso and the resulting sharp rise in prices, ``we earn enough to half-eat,'' jokes Catalina Ventura, speaking for herself and Concepcion Martinez, two saleswomen in a crafts shop in Tlaquepaque, outside Guadalajara, explaining why they had abandoned the P.R.I. to vote P.A.N. Such sentiments do not bode well for Zedillo's ability to unify the country behind the tough measures that...
...that Grupo Sidek still has an additional $100 million or so of debt coming due soon, and are concerned that if it fails to pay, other big companies will also stiff their foreign creditors. Eduardo Cabrera, a Latin American investment strategist for Merrill Lynch in New York, says that Zedillo ``should have stepped in with a bridge loan or something'' to remove all fears of a default. The President did not, and the Mexican stock market dropped about 6% last Wednesday to a 17-month low. It recovered a bit by week's end, but the peso remained volatile, trading...
...Zedillo, who was hurriedly designated the P.R.I.'s presidential candidate last year after the party's first choice, Luis Donaldo Colosio, was assassinated, could be forgiven if he feels as if he has fallen through a trapdoor. He took office a few days before a financial crisis erupted that his predecessor, Carlos Salinas de Gortari, had done little to prepare either Zedillo or the nation for. But Zedillo's performance so far has not reassured the foreign-government officials and financiers who will have to bail Mexico out. The Clinton Administration, says a Senate staff member who regularly deals with...