The president closed his speech by proposing a pact. He stated that if there is no agreement he will govern by decree. However, he asked for consensus to make a “more lasting” adjustment, which includes structural reforms such as labor and pension reform.

Milei offered the governors and the employers’ parties to negotiate the adjustment. Throughout his speech he showed toughness and intransigence. However, at the same time he called on the provincial leaders to make an agreement to guarantee adjustment against the working people and a set of structural reforms.

Although he repeatedly criticized “the politicians” and “the caste,” Milei told the governors that he proposed the signing of an agreement on May 25, in Córdoba. This had to start from a series of basic conditions such as labor reform, pension reform or tax reform. He proposed, at the same time, a pre-agreement to advance on that path.

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Along the same lines, he stated that this pact should include a set of points “with which no one could disagree.” “This is the offer we set the table. It will be up to you to decide. That day we will see who is sitting at the table,” he added in relation to the proposal to meet in Córdoba.

In the ten points that he offered as a basis for negotiation are

  • Define the inviolability of private property.
  • Discuss that fiscal balance is non-negotiable.

  • Agree on a reduction in public spending, close to 25% of GDP.

  • Discuss a broad tax reform.
  • Rediscuss tax sharing, ending the current situation.
  • Advance in the commitment to exploit natural resources.
  • Advance in a broad labor reform.
  • Discuss a pension reform.
  • Discuss broad structural political reform

  • Advance in the opening of international trade.

    The invitation to negotiate is based on a real fact: The governors have been applying the adjustment in the provinces. This is evident in the salary adjustments against teaching, in the high rates and in the cuts in public spending.

  • Politics / Fiscal adjustment / Javier Milei


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