In the context of the approval of the reform of the Judicial Branch, the Financial Times launched a very harsh opinion on this initiative, describing to its readers possible scenarios that would result in “a nightmare” for the financial world.
“Imagine that you are the CEO of a multinational company and that you face a state competitor that competes unfairly. Your lawyers say that you have a solid case. Still, the judge is an ally of the ruling party, the regulator is an official of the ministry that owns your competitor and the tax authority threatens you with jail. At the same time, it verifies whether your invoices may be fraudulent,” begins the opinion column, The business world warns about constitutional restructuring in Mexico.
The hardest blow comes when it says: “Nightmares like this could happen in Russia, but they are not what would be expected in a North American nation that is the largest commercial partner of the United States,” referring to the reform that was approved this morning in the House of Representatives and goes to the Senate.
Michael Stott, the author of the text, points out that the initiative was proposed by López Obrador, who points out that he cannot be re-elected as president since it is not permitted by law, and therefore “he is using the newly acquired strength of his Morena party in Congress – in practice a supermajority – to complete a ‘fourth transformation'”.
And while he warns that a large majority of voices favor improving the Mexican judicial system, he assures that for business leaders, López Obrador’s changes provoke fears that “things will get worse by politicizing justice”.
The problem would impact sectors such as mining, energy, and telecommunications, which require greater long-term investments. Therefore, the proper functioning of the rule of law is vital.
San Miguel Times
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