August 19, 1997

The recent elections in Mexico signaled the beginning of a new era in Mexican politics. Most observers interpreted the results as another step in the march towards full democracy in the country, but we have a slightly different take. Its our belief that the outcome was nothing more than a repudiation of the policies instituted by President Ernesto Zedillos administration - both the policies that led to the 1994 devaluation of the peso and the policies of the subsequent austerity program.

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