New Argentine president assumes power, promises many changes

Argentina’s outgoing President Cristina Fernandez de Kirchner has made an emotional farewell speech to supporters in Buenos Aires.

Critics say Macri is working too closely with US economic interests and fear austerity measures that could lead to cuts in the social spending that expanded under Kirchner and her late husband.

Macri requested that the oath-taking is done at the Congress before receiving the presidential sash from Fernandez at the Casa Rosada Presidential Palace in the capital, Buenos Aires.

“Today a dream is being achieved”, Macri said as he took the oath 15 minutes ahead of schedule, surprising commentators who noted Argentina isn’t known for such punctuality.

Mauricio Macri was sworn in as President of Argentina on Thursday in a ceremony that was boycotted by his predecessor, Cristina Fernández, after a bitter argument over how and where to hold it.

Her absence makes it the first time since the end of the military dictatorship in 1983, that a president has not attended the inauguration of a successor.

“Macri is the one who is going to restore democracy”, said pensioner Lilia Mitre, who arrived at dawn to save her spot. In Parrilli’s words, Fernandez won’t participate in any inauguration activities “under these circumstances”.

“There’s a sea change coming”, Macri vowed on November 22, when he won a run-off election against Kirchner’s chosen successor, Daniel Scioli.

The fifty six-yr-previous ran on promises to usher in an period of extra civil discourse and roll again a lot of the Fernandez administration spending that many economists say has introduced Argentina to the brink of one other monetary disaster. Mrs Fernandez de Kirchner created the post of Falklands Minister in 2013.

She accused Mr Macri of shouting at her on the phone and said that this was not appropriate as a man speaking to a woman.

Mr. Macri will need broad legislative support to resolve a legal conflict with USA hedge funds that has prevented Argentina from borrowing money in global credit markets.

Mr. Macri preferred to revert to the traditional system, but Ms. Fernández insisted on sticking to the more recent practice, and refused to relent. Double M is promising to tackle the country’s 30 percent inflation, improve conditions for business, improve infrastructure, sweep away restrictive currency controls, which has produced a booming black market for dollars, plus improve relations with the United States and Britain.

After Ms Fernandez declined to attend the ceremonies, Mr Macri’s party sought a court injunction affirming that her term ended at midnight on Wednesday.

Tens of thousands of Macri supporters swarmed toward the Pink House presidential palace, where Macri later received the presidential baton and sash from the Senate leader in Fernandez’s absence.

During her eight years in power, Kirchner ringed Argentina with protectionist trade policies meant to bolster local industry.