No opinion pollster predicted the scale of Mr Macri’s humiliation. The Argentine peso fell by 20% when markets opened on August 12th
FOR MERCEDES, a shop assistant in the centre of Buenos Aires, the decision took itself. “We voted last time for the president because we wanted a better life, especially for our children. But life was worse under him. We worked more to have less.”
The defeat was all-encompassing: Mr Macri was behind in the province of Buenos Aires; in the industrial centre of Rosario; and in the wine capital of Mendoza. One of the big winners, Axel Kicillof, who served as economy minister in Ms Fernández’s government, and is now running to be governor of Buenos Aires province, said the result was down to “people not knowing if they can... get to the end of the month and pay their bills.
In remarks welcoming his victory, Mr Fernández went out of his way to stress a moderate agenda. “We were never crazy governing before,” he declared. His advisers say that they never expected to do so well in the primary. According to one, he will now tread carefully. “Every fall in the peso will translate into higher prices, and make his job as president that much tougher.”
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