In a historic ballotage the libertarian newcomer defeated a united Peronism, signaling the end of a “toxic status quo”
In last Sunday's runoff election, the Libertarian Javier Milei managed a surprisingly solid victory against the incumbent Peronist Economy Minister Sergio Massa. With a result of 55.7% against 44.3% (accounting for only the valid vote), Milei obtained a better-than-expected lead of nearly 11pp.
Fortunately, the fear of a high percentage of blank or absent votes did not materialize, despite the election's being held in the middle of a long weekend. In fact, the high participation rate reinforces Milei's political legitimacy.
Despite the important economic challenges facing the nation, we consider this government change, even if headed by a Libertarian outsider such as Milei, who has little political support in Congress, as a better medium-term result than reaffirming the current economic model headed by Massa.
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