It must have been a frank dialogue between women of power. For the first time, a president-elect in North America; on the other side, the first woman to head one of Wall Street’s iconic banks. But the topic addressed could not have been more thorny.
According to sector sources consulted by this space, the purpose of the meeting of Jean Fraser, CEO of Citi -owner here of Citibanamex-, with Claudia Sheinbaum and with Rogelio Ramírez, Secretary of the Treasurythe week just ended, was to inform you that its global financial group will stop the operations in Mexico of at least four large investment funds, until it has clarity about the risks that the reform of the Judiciary that seeks to precipitate the President Lopez before him Congressnext September.
The same sources, who on other occasions have confided to me details about negotiations of Citi with key government actors, assured that in the independent meetings held by Fraser -and managers who accompanied her- with Sheinbaum Pardo and with Ramírez de la O, the senior banking executive received the suggestion to seek a personal meeting with López Obrador. If it happens, it will be uncomfortable, since both characters have had disagreements since the spring of 2023, on various issues.
It has been possible to learn that top-level executives from other financial corporations with global reach, in particular two also based in the United States, have requested, through formal channels with Mexico, separate meetings to show analysis according to which the aforementioned Tax Reform would not only cause uncertainty on investors, but would also imply violations of the T-MEC with the American Union and Canada, which must be reviewed in 2027.
This occurs while the Supreme Court of Justicechaired by Minister Norma Lucía Peña, has entered into a period of internal upheaval faced with the scenario that represents the AMLO Judicial Reform projectwhich would behead not only the highest court, but more than 1,400 judges and federal magistratesto be relieved by officials elected by popular vote low unknown conditions until now, among multiple other measures.
Within the plenary session of the Court, wills have emerged that seem to complicate in the short term a common front whose solidity should come from the force of reason, the Law and the moral authority of the ministers. At the moment, a fracture is emerging between those whose retirement is closest – Luis María Aguilar and Jorge Pardo Rebolledo -, referred to as willing to accept the impact of the reform; the most controversial ministers close to the ruling party, Lenia Batres and Yasmín Esquivel, open activists of constitutional amendments. And a third block, of the remaining seven, not entirely uniform, which would be reflecting on the conduct to follow and the role they should assume. In that group, Minister Piña Hernández and Minister Juan Luis González Alcántara Carrancá stand out, with their own individual gravitation and leadership style.
As far as it has been possible to know, there is no bridge of dialogue, formal and validated by the parties, between the ministers and the Palace, or with Claudia Sheinbaum’s headquarters. An attempt made in this regard from the circle close to Minister Piña was unsuccessful, and there is not enough clarity if something along these lines is being attempted by Minister González, undoubtedly the one who has the greatest recognition on the part of both López. Obrador like Claudia Sheinbaum.
From the Palace, the pressure to impose the reform seems to be sustained, even with reservations about a debate on it in open parliament. At the same time, solid objections accumulate about specific aspects of it.
More from the same author:
#Court #creaks #bank #puts #brakes