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Peso Pummelled After Mexico’s Leading Party Warns ‘Confiscation Is Coming’

Courtesy of ZeroHedge. View original post here.

The peso is down over 1% today, not helped by remarks from a co-founder of the party led by leading presidential candidate Andrés Manuel López Obrador has sparked controversy by advocating the expropriation of companies that refuse to cooperate with an AMLO administration if he wins the July 1 election.

“If businesses won’t cooperate, expropriate…”

As MexicoNewsDaily.com reports, prominent writer Paco Ignacio Taibo II, currently the art and culture secretary of the Morena party’s national executive committee, made the remarks while speaking at an event attended by party supporters earlier this week.

“. . . One day after taking power, I imagined Andrés Manuel in the [presidential residence] Los Pinos, right? Then he welcomes a committee of the powerful men of Mexican finance: [Carlos] Slim is there, the owner of the Modelo brewery is there, to tell him: ‘Careful, Andrés, because if you move in that sense [expropriation], we’ll take the factories to Costa Rica,” he said.

“[I will be surprised] if that same day, at that same time, we are not two or three million Mexicans in the street saying: ‘If they want to blackmail you, Andrés, expropriate them, fuck them, expropriate them,’” Taibo continued in a video currently circulating on social media.

AMLO, left, and Taibo, center: expropriation advocated. AMLO, left, and Taibo, center: expropriation advocated.

The writer, who is reportedly close to the “Together We Will Make History” coalition candidate, then went on to assert that the social mobilization of the Mexican people will be essential to achieving significant change in the country.

Just what America needs, further social unrest in Mexico to pile on the drug cartel war.

Read more here…


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