There were no surprises in his speech, but it did contain some comforting reassurances. On the economic front, the President confirmed what most expected, a continued adherence to the strict fiscal and monetary policies that were introduced in 1995 to confront the economic emergency, and which many regard as the main reason for the country's recently-gained financial stability. President Zedillo has kept his nerve and resisted calls for higher spending which, as we should all have learnt by now, are no more than siren calls. In his message he asserted unequivocally that the country has overcome the stage of economic emergency and has clearly begun to recover, a claim firmly supported by all recent indicators. The President pledged to build on this incipient recovery by sticking to responsible policy criteria and eschewing any ill-advised increases in public spending for the sake of short term gains.
Previous experience shows that such gains are invariably short-lived and ultimately detrimental.
The President did not fail to mention, however, that the consolidation of the country's economic recovery will not be sufficient in the short term to repair the damage to living standards caused by the crisis. By all accounts, this is a formidable challenge, hence the resolve with which the Government is pursuing a responsible, long-term economic policy. The importance of the economy notwithstanding, arguably the most pressing challenges facing Mexico today are of a political nature. The Constitutional reforms to the judicial branch undertaken in 1995 and the recent overhaul of the nation's Federal Judicial Police are evidence that the administration is working to strengthen this arm of government and promoting greater respect for the law. The President announced that all levels of law enforcement are to be united by a national programme to better coordinate tasks, and that his office has submitted legislation to improve powers in the fight against organised crime.