Mexico Girds for Education Standoff After Contentious Bill Passes
President Peña Nieto Vows to Press on With Overhaul Plans, Urges Lawmakers to Ignore Pressure as Teachers Clamor in Street. Key point:
Passing the education bill was crucial for Mr. Peña Nieto. If pressure from the street demonstrations had blocked the passage of the bill, the rest of Mr. Pena’s reform agenda, which includes a tax revamp to boost the country’s revenue, could have been jeopardized.
Peña Nieto’s reform agenda is called “the pact for Mexico”, and the teachers’ protest put Mexico’s reform agenda at risk
Mexico’s political establishment, the president’s foes, the media, and the international community are watching carefully whether Peña Nieto will defend the pillar of his education proposal in the face of fierce resistance. Unless he musters the courage to salvage his reforms, he will embolden the populist left, demoralize advocates of reform, and undermine his plan for building a more competitive Mexico — particularly the modernization of the energy sector.
Frankly, the legacy of Peña Nieto’s six-year mandate hangs in the balance.
Mexico could become a ‘jaguar’ economy, similar to the fast-growing ‘tiger’ economies of East Asia, if its newly-elected government succeeds in kick-starting lackluster growth with ambitious economic reforms, Nomura said.
There’s a huge protest scheduled for tomorrow. The fate of our hemisphere hangs on how this is resolved.