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Monday, March 12, 2018

López Obrador does not conquer the Mexican bank

Por MRod

As in almost all of Andres Manuel Lopez Obrador interventions in public, the fight against corruption played a predominant role in his speech at the banking convention. "If we banish it, we will carry out a peaceful revolution and achieve the rebirth of Mexico". The candidate and his team calculate that each year the equivalent of 10% of the Mexican public budget goes away in acts of corruption.

"Be confident", that was the message of the leftist candidate for the presidency of Mexico Andres Manuel Lopez Obrador on Friday in Acapulco before the staff of the Mexican bank, where he outlined the the basic plans of the government program that he is to present in the upcoming elections of July. This was nothing more than a new attempt to convince the cream of the Mexican economic power that his potential arrival as the head of the State and the Government would not suppose a threat to its interests. "We are not going to affect the banking sector at all," said the candidate of the Morena coalition (left), the Workers Party (left) and the Social Encounter Party (conservative) heading for the presidential elections.

"Our country needs a stronger bank system. What we do propose is that the banking service is expanded: Mexico has 1,000 municipalities and more than 60% of the national territory without banking services. And this is needed, "remarked López Obrador. In an election year, the traditional Mexican banking convention - the annual summit of the financial sector in the North American country - becomes a parade of candidates. López Obrador has already attended the meeting in 2012, months before the elections. And he has done it again this year, minutes after the presentation of his economic programs by his two rivals for the presidency of the second largest power in Latin America, Ricardo Anaya (PAN, PRD and Movimiento Ciudadano) and José Antonio Meade (PRI).

"We want to apply a simple, but transcendent and profound formula: end corruption, impunity and privileges," promised the head of government of Mexico City between 2000 and 2005. "We are not going to confiscate assets nor are they going to carry out expropriations or nationalizations. We are going to move the country forward facing the main problem: corruption. The plan is that: to end corruption", said López Obrador before an audience composed of executives from financial institutions and businessmen, who guaranteed the independence of the central bank and promised not to raise any taxes -" neither the VAT nor the rent, "he said.

Neither, he emphasized, will there be fiscal figures or more public debt if he reaches the Government. "No gasolinazo," he added in reference to a potential rise in the price of gasoline like the one that occurred a year and a half ago, after the liberalization of the sector. The leaders of the banking and private sectors corresponded their promises with timid applause, less than those harvested by Meade and Anaya. His speech, in the end, could have not resulted as he expected.