Polling, Commentary on the Cabinet Changes

The Mexican public isn't crazy about the idea of the Carstens replacing Guillermo Ortiz at Banxico. According to a poll published in Excélsior this morning, more than half preferred that Ortiz stayed put. Fifty-six percent worried that Carstens would continue following Calderón's instructions after the switch. At the same time, these pieces of info make the proverbial grain of salt grow a bit: only half of the people polled were aware of Carstens being named the new Banxico chief, and only a third knew who Ortiz was.

Relatedly, here was what Macario Schettino had to say last week:

As part of the political struggle surrounding the bank, the idea has been pushed that if Carstens goes to the Bank, this will imply a subordination of that institution to the president. Nonsense. The same thing happened at the end of the Zedillo administration, Ortiz left Finance to go to the bank, and the autonomy has been celebrated. I don't see why anything different will occur. As it happens, a few days ago the rumorologists were saying that Carstens had a decreasingly agreeable relationship with the president. And soon enough now they say Carstens will be his subordinate. If the topic is experience, or potential capacity, well Secretary Carstens doesn't have any problem. In summary, it's a good selection (or better yet, proposal, until the Senate ratifies him, as it should).

Also, in an interview this morning, Cordero listed getting banks to extend credit more readily as a primary goal. On that count, sounds like he has his priorities straight.