When María Luz Alonso was sworn in to assume a key administrative post in Argentina’s Senate on Nov. 27, she didn’t pledge allegiance to the nation, the constitution, God, or even to President-elect Alberto Fernández. “By Cristina Fernández de Kirchner, I swear,” said Alonso, eliciting a round of applause in the chamber.
Her vow underscored the growing perception that Argentina’s vice president will be the one calling the shots in the new administration, something that’s concerned investors ever since they learned the former populist president would be joining the Peronist ticket. Even in Argentina, a country notorious for political turmoil, the power dynamic is unusual and risks clash at the top. “Cristina is showing that part of Alberto’s power depends on her,” says Camila Perochena, a political science professor at Torcuato Di Tella University in Buenos Aires. “What we have is something unprecedented in Argentina’s history: a vice president that’s going to have a strong role in the lower house, Senate, cabinet, and executive branch.”
Fernández, who was inaugurated on Dec. 10, has conceded that Fernández de Kirchner influenced his cabinet choices after previously saying she’d have no voice. One of her allies, Eduardo de Pedro, was named interior minister, an important post that, among other things, entails managing the critical ties between the president and Argentina’s powerful governors.
This story is from the December 16, 2019 edition of Bloomberg Businessweek.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 16, 2019 edition of Bloomberg Businessweek.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers