Thursday, March 6, 2014

Argentine President Cristina Fernández is a lame duck

Even in extremely fragile and risky cases, such as Argentina, Venezuela and Ukraine, political and economic conditions have become so bad that—short of becoming failed states—the situation can only get better. Argentine President Cristina Fernández is a lame duck and any of her potential successors will be more moderate. In Venezuela, President Nicolás Maduro is a weak leader who may eventually be unseated by a more centrist opposition. Ukraine, having gotten rid of a kleptocratic thug, may stabilize under a Western-led economic revival programme if the country can avoid civil war. So, in most cases, there is reason to hope that electoral change and political upheaval will give rise to moderate governments whose commitment to market-oriented policies will steadily move their economies in the right direction.- in Project Syndicate

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
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