Fernando de la Rúa
Encyclopedia
Fernando de la Rúa is an Argentine
politician. He was president
of the country from December 10, 1999 to December 21, 2001 for the Alliance for Work, Justice and Education
(a political alliance of the Radical Civic Union
and Frepaso
).
, he attended the local Military Lyceum before entering the National University of Córdoba
, from which he obtained his law degree. The son of a judge and longtime supporter of the centrist Radical Civic Union
(UCR), de la Rúa became involved in politics at a young age, and entered public service in 1963 as an advisor to President Arturo Illia's Internal Affairs Minister
. He married the former Inés Pertiné, a Buenos Aires
socialite, in 1970, and had three children, including Antonio de la Rúa
, an entrepreneur who was engaged to pop superstar Shakira
.
He first appeared in the national political arena in 1973, when he was elected to the Argentine Senate
, representing the city of Buenos Aires
. A few months later he ran for the Vice Presidency as veteran UCR politician Ricardo Balbín
's running mate in snap elections
called for September of that year; their ticket was defeated by the recently returned populist leader, Juan Perón
, in a landslide. His youth (running for Vice President at the age of 36) earned him the still-standing nickname of "chupete" ('pacifier' or 'dummy'
), as he was perceived as a political neophyte.
He taught criminal law
at the University of Buenos Aires
after the March 1976 coup that suspended Congress, and wrote four books on legal theory. Following the democratic restoration in 1983, in which the UCR prevailed, de la Rúa was overwhelmingly returned to the Senate. His 1989 reelection bid was complicated by an economic crisis that affected all UCR candidates, however, and although he won the popular vote, de la Rúa was outmaneuvered in the Electoral College by an alliance between the Justicialist Party
and the Ucedé.
Elected to the Lower House
by his constituents in the city of Buenos Aires
in 1991, he was again returned to the Senate in a 1992 special election, and de la Rúa became increasingly thought of as presidential timber in the press. Benefiting from his high standing in the polls and the amendments
to the Constitution that gave Buenos Aires the right to elect its own mayor, de la Rúa became the first elected mayor of Buenos Aires following elections on June 30, 1996.
Quick to tackle chronic property tax evasion in his city, de la Rúa earned a reputation for efficiency as his city's mayor. President Carlos Menem
's dismissal of the Alliance candidate as "boring" was effectively used by the de la Rúa campaign in their ads, by which de la Rúa's tedium became a desirable alternative to Menem's "party" (a reference to the latter administration's numerous corruption scandals). This, as well as the nation's mounting social and economic problems, helped carry de la Rúa to victory in the October 24, 1999, presidential election, handily defeating the ruling party candidate, Buenos Aires
Governor Eduardo Duhalde
(despite the latter's opposition to the unpopular president). Fernando de la Rúa was inaugurated President of Argentina
on December 10, 1999.
from 1997 to 1999) and established educ.ar ("educate"), a state-sponsored educational website. Enjoying high approval ratings in its early days, continuous disputes and rivalries among the coalition partners, a general sensation of inaction in the face of recession, and a failure to tackle corruption, as well as de la Rúa's own lack of charisma and slow demeanor (perceived as stupor), hurt his public image. The July 29 suicide of Dr. René Favaloro
, the creator of coronary bypass surgery, following repeated, unsuccessful attempts to obtain federal reimbursement for millions in services, underscored public perceptions of an inability to govern, moreover. Subsequent revelations that the administration bribed a number of UCR senators for their support of a stalled labor law flexibilization bill in April led to the resignation of Vice President Álvarez in protest on October 6, as well as of Cabinet Chief Rodolfo Terragno
and of three other cabinet members, pushing the de la Rúa presidency into its crisis stage.
Economy Minister José Luis Machinea
enacted austerity
measures, and successfully negotiated a US$38 billion International Monetary Fund
line of credit
in December. A worsening recession and disapproval of cutbacks led to Machinea's resignation on March 5, followed two weeks later by that of his conservative successor, Ricardo López Murphy
. Facing mounting pressure and 18% approval ratings, on March 19, 2001, the president reached out to Domingo Cavallo
, the economist behind the "Argentine miracle" during the early 1990s. Cavallo's appointment was, however, interpreted as an act of desperation by the derivatives markets and a massive shorting of Argentine bonds ensued, followed by at least US$40 billion in domestic capital flight.
Deep budget cuts, including a 13% reduction in pay for the nation's 2 million public sector employees, failed to curb the rapidly increasing country risk
on almost U$100 billion in Argentine bonds, increasing debt service costs and further limiting access to international credit, despite a moderately successful debt swap arranged by Cavallo with most bondholders. Voters reacted to the rapidly worsening economy in the October 2001 midterm elections
by both depriving the Alliance of its majority in the Lower House, and by casting a record 25% of spoiled ballots.
The financial crisis and the wave of capital flight led Cavallo to impose a limited account freeze
on cash withdrawals on December 1, and four days later, the IMF, IADB
and World Bank
announced the cancellation of loan tranches of over US$5 billion. The withdrawal limits led to growing popular unrest, moreover, and by mid-December, rioting had begun in a number of poorer urban neighborhoods. Amid repression of protesters and rioters that left 23 dead, one of the president's last acts in office was to ban extraditions for human rights violations. De la Rúa was ultimately forced out of office, however, by the December 2001 riots
, which took shape under the rallying cry, ¡Que se vayan todos! ("Away with them all!") – referring to the governing and political class.
that the president had ordered demonstrators at the Plaza de Mayo
(in which five died) quelled, were ruled unsubstantiable by Judge Bonadío in April 2009.
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
politician. He was president
President of Argentina
The President of the Argentine Nation , usually known as the President of Argentina, is the head of state of Argentina. Under the national Constitution, the President is also the chief executive of the federal government and Commander-in-Chief of the armed forces.Through Argentine history, the...
of the country from December 10, 1999 to December 21, 2001 for the Alliance for Work, Justice and Education
Alliance for Work, Justice and Education
The Alliance for Work, Justice and Education was a party coalition in Argentina around the turn of the third millennium...
(a political alliance of the Radical Civic Union
Radical Civic Union
The Radical Civic Union is a political party in Argentina. The party's positions on issues range from liberal to social democratic. The UCR is a member of the Socialist International. Founded in 1891 by radical liberals, it is the oldest political party active in Argentina...
and Frepaso
Front for a Country in Solidarity
The Front for a Country in Solidarity was a political party in Argentina. It was formed in 1994 out of the Great Front , which had been founded mainly by progressive members of the Peronist Justicialist Party who denounced the policies and the alleged corruption of the Carlos Menem administration;...
).
Early life
Born to Eleonora Bruno and Antonio De la Rúa in the city of CórdobaCórdoba, Argentina
Córdoba is a city located near the geographical center of Argentina, in the foothills of the Sierras Chicas on the Suquía River, about northwest of Buenos Aires. It is the capital of Córdoba Province. Córdoba is the second-largest city in Argentina after the federal capital Buenos Aires, with...
, he attended the local Military Lyceum before entering the National University of Córdoba
National University of Córdoba
The National University of Córdoba, , is the oldest university in Argentina, and one of the oldest in the Americas. It is located in Córdoba, the capital of Córdoba Province. Since the early 20th century it has been the second largest university in the country in terms of the number of students,...
, from which he obtained his law degree. The son of a judge and longtime supporter of the centrist Radical Civic Union
Radical Civic Union
The Radical Civic Union is a political party in Argentina. The party's positions on issues range from liberal to social democratic. The UCR is a member of the Socialist International. Founded in 1891 by radical liberals, it is the oldest political party active in Argentina...
(UCR), de la Rúa became involved in politics at a young age, and entered public service in 1963 as an advisor to President Arturo Illia's Internal Affairs Minister
Home Secretary
The Secretary of State for the Home Department, commonly known as the Home Secretary, is the minister in charge of the Home Office of the United Kingdom, and one of the country's four Great Offices of State...
. He married the former Inés Pertiné, a Buenos Aires
Buenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
socialite, in 1970, and had three children, including Antonio de la Rúa
Antonio de la Rúa
Antonio de la Rúa , is the oldest son of former Argentine president, Fernando de la Rúa and Inés Pertiné...
, an entrepreneur who was engaged to pop superstar Shakira
Shakira
Shakira Isabel Mebarak Ripoll , known professionally as Shakira , is a Colombian singer who emerged in the music scene of Colombia and Latin America in the early 1990s...
.
Argentine Senate
The Argentine Senate is the upper house of the Argentine National Congress. It has 72 senators: three for each province and three for the Autonomous City of Buenos Aires...
, representing the city of Buenos Aires
Buenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
. A few months later he ran for the Vice Presidency as veteran UCR politician Ricardo Balbín
Ricardo Balbín
Ricardo Balbín was an Argentine lawyer and politician, and one of the most important figures of the centrist Radical Civic Union , for which he was the presidential nominee four times: in 1951, 1958, and twice in 1973....
's running mate in snap elections
Argentine general election, September 1973
The second Argentine general election of 1973 was held on 23 September. Turnout was 85.5%, and it produced the following results:-Background:...
called for September of that year; their ticket was defeated by the recently returned populist leader, Juan Perón
Juan Perón
Juan Domingo Perón was an Argentine military officer, and politician. Perón was three times elected as President of Argentina though he only managed to serve one full term, after serving in several government positions, including the Secretary of Labor and the Vice Presidency...
, in a landslide. His youth (running for Vice President at the age of 36) earned him the still-standing nickname of "chupete" ('pacifier' or 'dummy'
Pacifier
A pacifier is a rubber, plastic, or silicone nipple given to an infant or other young child to suck upon. In its standard appearance it has a teat, mouth shield, and handle...
), as he was perceived as a political neophyte.
He taught criminal law
Criminal law
Criminal law, is the body of law that relates to crime. It might be defined as the body of rules that defines conduct that is not allowed because it is held to threaten, harm or endanger the safety and welfare of people, and that sets out the punishment to be imposed on people who do not obey...
at the University of Buenos Aires
University of Buenos Aires
The University of Buenos Aires is the largest university in Argentina and the largest university by enrollment in Latin America. Founded on August 12, 1821 in the city of Buenos Aires, it consists of 13 faculties, 6 hospitals, 10 museums and is linked to 4 high schools: Colegio Nacional de Buenos...
after the March 1976 coup that suspended Congress, and wrote four books on legal theory. Following the democratic restoration in 1983, in which the UCR prevailed, de la Rúa was overwhelmingly returned to the Senate. His 1989 reelection bid was complicated by an economic crisis that affected all UCR candidates, however, and although he won the popular vote, de la Rúa was outmaneuvered in the Electoral College by an alliance between the Justicialist Party
Justicialist Party
The Justicialist Party , or PJ, is a Peronist political party in Argentina, and the largest component of the Peronist movement.The party was led by Néstor Kirchner, President of Argentina from 2003 to 2007, until his death on October 27, 2010. The current Argentine president, Cristina Fernández de...
and the Ucedé.
Elected to the Lower House
Argentine Chamber of Deputies
The Chamber of Deputies is the lower house of the Argentine National Congress. This Chamber holds exclusive rights to create taxes, to draft troops, and to accuse the President, the ministers and the members of the Supreme Court before the Senate....
by his constituents in the city of Buenos Aires
Buenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
in 1991, he was again returned to the Senate in a 1992 special election, and de la Rúa became increasingly thought of as presidential timber in the press. Benefiting from his high standing in the polls and the amendments
1994 reform of the Argentine Constitution
The 1994 amendment to the Constitution of Argentina was approved on 22 August by a Constitutional Assembly that met in the twin cities of Santa Fe and Paraná...
to the Constitution that gave Buenos Aires the right to elect its own mayor, de la Rúa became the first elected mayor of Buenos Aires following elections on June 30, 1996.
Quick to tackle chronic property tax evasion in his city, de la Rúa earned a reputation for efficiency as his city's mayor. President Carlos Menem
Carlos Menem
Carlos Saúl Menem is an Argentine politician who was President of Argentina from 1989 to 1999. He is currently an Argentine National Senator for La Rioja Province.-Early life:...
's dismissal of the Alliance candidate as "boring" was effectively used by the de la Rúa campaign in their ads, by which de la Rúa's tedium became a desirable alternative to Menem's "party" (a reference to the latter administration's numerous corruption scandals). This, as well as the nation's mounting social and economic problems, helped carry de la Rúa to victory in the October 24, 1999, presidential election, handily defeating the ruling party candidate, Buenos Aires
Buenos Aires Province
The Province of Buenos Aires is the largest and most populous province of Argentina. It takes the name from the city of Buenos Aires, which used to be the provincial capital until it was federalized in 1880...
Governor Eduardo Duhalde
Eduardo Duhalde
-External links:...
(despite the latter's opposition to the unpopular president). Fernando de la Rúa was inaugurated President of Argentina
President of Argentina
The President of the Argentine Nation , usually known as the President of Argentina, is the head of state of Argentina. Under the national Constitution, the President is also the chief executive of the federal government and Commander-in-Chief of the armed forces.Through Argentine history, the...
on December 10, 1999.
Presidency
De la Rúa's government inherited an ongoing economic crisis. His administration initially announced increases in infrastructure spending and teacher pay (the subject of a "white tent" protest on Congressional PlazaCongressional Plaza
Congressional Plaza is a public park facing the Argentine Congress in Buenos Aires. The plaza is part of a 3 hectare open space comprising three adjoining plazas to the east of the Congress building...
from 1997 to 1999) and established educ.ar ("educate"), a state-sponsored educational website. Enjoying high approval ratings in its early days, continuous disputes and rivalries among the coalition partners, a general sensation of inaction in the face of recession, and a failure to tackle corruption, as well as de la Rúa's own lack of charisma and slow demeanor (perceived as stupor), hurt his public image. The July 29 suicide of Dr. René Favaloro
René Favaloro
Dr. René Gerónimo Favaloro was an Argentine cardiac surgeon who created the technique for coronary bypass surgery....
, the creator of coronary bypass surgery, following repeated, unsuccessful attempts to obtain federal reimbursement for millions in services, underscored public perceptions of an inability to govern, moreover. Subsequent revelations that the administration bribed a number of UCR senators for their support of a stalled labor law flexibilization bill in April led to the resignation of Vice President Álvarez in protest on October 6, as well as of Cabinet Chief Rodolfo Terragno
Rodolfo Terragno
Rodolfo Terragno is an Argentine politician and lawyer, former Senator and journalist.-Life and times:Terragno was born in Buenos Aires, Argentina, in 1943 and obtained a Law Degree from the University of Buenos Aires in 1967, founding the law firm of Terragno & Associates. He married Sonia...
and of three other cabinet members, pushing the de la Rúa presidency into its crisis stage.
Economy Minister José Luis Machinea
José Luis Machinea
José Luis Machinea is an Argentine economist and United Nations official.-Career:Machinea was born in Buenos Aires, and earned a degree in Economics from the Universidad Católica Argentina in 1968. He first entered public service in 1974, as a member of the Central Bank's Center for Montary and...
enacted austerity
Austerity
In economics, austerity is a policy of deficit-cutting, lower spending, and a reduction in the amount of benefits and public services provided. Austerity policies are often used by governments to reduce their deficit spending while sometimes coupled with increases in taxes to pay back creditors to...
measures, and successfully negotiated a US$38 billion International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
line of credit
Line of credit
A line of credit is any credit source extended to a government, business or individual by a bank or other financial institution. A line of credit may take several forms, such as overdraft protection, demand loan, special purpose, export packing credit, term loan, discounting, purchase of...
in December. A worsening recession and disapproval of cutbacks led to Machinea's resignation on March 5, followed two weeks later by that of his conservative successor, Ricardo López Murphy
Ricardo López Murphy
Ricardo Hipólito López Murphy is an Argentine economist and politician.-Career:López Murphy was born in Adrogué, Buenos Aires Province. He attended the National University of La Plata, where he was awarded the title of "Licenciado en Economía" in 1975...
. Facing mounting pressure and 18% approval ratings, on March 19, 2001, the president reached out to Domingo Cavallo
Domingo Cavallo
Domingo Felipe "Mingo" Cavallo is an Argentine economist and politician. He has a long history of public service and is known for implementing the Convertibilidad plan, which fixed the dollar-peso exchange rate at 1:1 between 1991 and 2001, which brought the Argentine inflation rate down from over...
, the economist behind the "Argentine miracle" during the early 1990s. Cavallo's appointment was, however, interpreted as an act of desperation by the derivatives markets and a massive shorting of Argentine bonds ensued, followed by at least US$40 billion in domestic capital flight.
Country risk
Country risk refers to the risk of investing in a country, dependent on changes in the business environment that may adversely affect operating profits or the value of assets in a specific country...
on almost U$100 billion in Argentine bonds, increasing debt service costs and further limiting access to international credit, despite a moderately successful debt swap arranged by Cavallo with most bondholders. Voters reacted to the rapidly worsening economy in the October 2001 midterm elections
Argentine legislative election, 2001
Argentina held national parliamentary elections on Sunday, 14 October 2001. Turnout was 75.6% and the results were as follows:-Chamber of Deputies:-Senate:-Background:...
by both depriving the Alliance of its majority in the Lower House, and by casting a record 25% of spoiled ballots.
The financial crisis and the wave of capital flight led Cavallo to impose a limited account freeze
Corralito
Corralito was the informal name for the economic measures taken in Argentina at the end of 2001 by Minister of Economy Domingo Cavallo in order to stop a bank run, and which were fully in force for one year. The corralito almost completely froze bank accounts and forbade withdrawals from U.S...
on cash withdrawals on December 1, and four days later, the IMF, IADB
IADB
IADB may refer to:* Inter-American Development Bank, an international organization to support Latin American and Caribbean economic and social development and regional integration...
and World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
announced the cancellation of loan tranches of over US$5 billion. The withdrawal limits led to growing popular unrest, moreover, and by mid-December, rioting had begun in a number of poorer urban neighborhoods. Amid repression of protesters and rioters that left 23 dead, one of the president's last acts in office was to ban extraditions for human rights violations. De la Rúa was ultimately forced out of office, however, by the December 2001 riots
December 2001 riots (Argentina)
The December 2001 uprising was a period of civil unrest and rioting in Argentina, which took place during December 2001, with the most violent incidents taking place on December 19 and December 20 in the capital, Buenos Aires, Rosario and other large cities around the country.- Background :The...
, which took shape under the rallying cry, ¡Que se vayan todos! ("Away with them all!") – referring to the governing and political class.
Later life
De la Rúa was hounded by numerous charges and lawsuits in subsequent years, both relating to police repression during the riots, as well as for his role in the Senate bribery case, and for alleged irregularities in the 2001 debt swap. He was indicted for homicide by Judge Claudio Bonadío in March 2007, though the ruling was reversed a year later. Accusations by Security Minister Enrique Mathov and Internal Affairs Minister Ramón MestreRamón Mestre
Ramón Bautista Mestre , an Argentine politician, was Governor of Córdoba from July 12, 1995 to July 12, 1999. He also served as Federal Interventor of Corrientes Province , Minister of the Interior , and Mayor of the City of Córdoba Ramón Bautista Mestre (August 21, 1937 – March 6, 2003), an...
that the president had ordered demonstrators at the Plaza de Mayo
Plaza de Mayo
The Plaza de Mayo is the main square in downtown Buenos Aires, Argentina. It is flanked by Hipólito Yrigoyen, Balcarce, Rivadavia and Bolívar streets....
(in which five died) quelled, were ruled unsubstantiable by Judge Bonadío in April 2009.