Massa Wins Argentinean Congressional Primary

President Christina Fernandez de Kirchner’s bid to secure two-thirds majorities in both houses of the Argentine legislature has suffered a setback in a primary vote for mid-term congressional elections. Massa’s party, Frente Renovador, held a firm lead over the president’s Frente para la Victoria with 97 percent of the vote counted.

Former Cabinet Chief Sergio Massa’s win over the president’s hand-picked candidate, Martin Insaurralde, was qualified as a “significant blow” for Fernandez de Kirchner according to a Barclays Plc. release. Their analysts saw the result as “positive for investors.”

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Sunday’s vote was the country’s first obligatory primary ahead of the vote on October 27, 2013. Half the seats in Congress and a third of seats in the Senate will be on the line, as well as any bid by Fernandez de Kirchner to push through constitutional changes to allow a third presidential term. The loss — Frente para La Victoria garnered just 26 percent of the votes nationwide — also highlighted that losing the legislature would hand Fernandez de Kirchner a lame-duck presidency.

Source: Bloomberg News. Read More »