Third part

Reagan began his government in January 1981 and then rip neo club policy , which I dedicate to Mexico a dense chapter. In the United States began to press strongly criticized Mexican economic situation for the resumption of capital flight , which were sentences followed by corruption, democracy simulation , drug trafficking and others.

In early 1981 in southern Mexico began to form Guatemala refugee camps fleeing the brutality of the military dictatorship in his country , as this , in their fight against the guerrillas was destroying the villages of northern Guatemala . The Guatemalan troops came to have temerity to make inroads into the Mexican territory . All this warmed the southern border , which then took advantage of United States to argue that the crisis in Central Mexico was moving . At that time Reagan , who had protested the Mexican intervention in Central America and ended thanked all Mexico diplomatic mediation between Nicaragua and the United States , as the Reagan administration came determined to crush the Sandinistas and was not going to tolerate no interference in its " backyard " .

Inside the country , in early 1981 , while inflation unbeatable slopes that January and February will result more painful than ever, but the real bombshell came when Saudi Arabia , esquiroleando for united states refused to reduce its production , as OPEC had voted . This precipitated the decline in oil prices instantly downgraded Mexico demanded four dollars per barrel.

Falling oil prices represent the output of fleeting period of abundance, the crisis appeared and made the eighties was the last decade. Mexican dollars appeared in 1981 , an operation to capture the savings bank of confidence is deposited currency and bank money as documented dollars. lot of people buy the Mexican dollars and all she began to mourn the end of his term , when he nationalized the banks. As did the dryer raged uncontrolled capital and the corresponding requirements of devaluation to round off a good deal, Lopez Portillo was forced to issue his famous dictum “defend the peso like a dog " .

In October, amid the turmoil of the presidential succession, took place north-south summit useless Cancun, which went unnoticed . Twenty heads of state, those representing two more and the secretary of the United Nations met to know, to sunbathe and vague mention in the international community of Lopez Portillo bonds were low and no one wanted to " reinforce him conduct “but neither wanted to appear inattentive by Mexico’s oil , Reagan put his incredible bows , I avoid it was Fidel Castro , who had them from attending formal commitments and too many countries. In the North Country newspapers pests Mexico cast and painted an impending disaster scenario , establishing parallels between the economic situation of Mexico and El Salvador and Guatemala " a confidence crisis is threatening the credibility of the party system in the nation , Mexico is not immune to the uprisings in Central America. "

On another level the presidential candidacy via kings Heroics policy reform shows seven candidates .Everyone, however, was taken for granted as always the PRI steamroller easily wipe out all the others put together . With the slogan of “moral renewal of society" electoral strategy of Miguel de la Madrid focused on the issue of corruption , which could not fail because it was one of the major national sports that give a bad name to the country. At the end of day 4, the interior minister and president of the CFE Enrique Olivares Santana, without providing figures or nothing to lean on , came out with that Miguel de la Madrid had won the election . “Was an undeniable success, large and legitimate " singing the PRI , but the other party complained of election fraud .And , not to vary , just as the treasury secretary and just says, " the crisis is over," August 2 increased gasoline prices , electricity and tortillas until the 15th of August and no one wanted to lend to Mexico . renewing even short-term debt was possible to get a penny , the Mexican government ran out of liquidity and , as had over payments of external debt , united states proposed oil an anticipated sale to pay immediate maturities , received the news that United States would pay the money only if Mexico reduced by $ 10 oil price .

In its latest report , Lopez Portillo dropped tears once again to recognize that he had not been able to meet the country's dispossessed and then shook the country by announcing the nationalization of the banks and control of widespread changes " I am responsible for the rudder , but not of the storm. In September From Madrid López Portillo asked to resign to implement many initiatives that were implicit in the nationalization of the banks, such as Bank Act Mexico , or penal code reforms , Lopez Portillo agreed to everything what he asked De la Madrid .

There was no money in reserves and had to deal with the IMF help guaranteeing that the Mexican economy, but without doubt it would require great sacrifices to overcome the crisis .López Portillo finished his run in the worst conditions. As soon as he could be went to Italy and the distance will certainly helped direct the criticism, ridicule and insults they did for a long time . In any case, the conditions of the country after the Echeverria and Lopez Portillo were the most severe in recent history . Had already started and the crisis lost decade, settled in México awful.