Calderón Takes The Reins

Mexico’s new president, Felipe Calderón, was inaugurated Friday in a ceremony kept short by recent protests from opposition lawmakers in Congress who threatened to disrupt the day. Calderón inherits a country with escalating social and political tensions and analysts are watching to see what line he takes regarding law and order. One of his first acts was to sign an austerity decree which will, reportedly, save the country $2.3 billion in spending next year. The decree allows for a 10% cut in the salary of the president and other government ministers. The president also designated former energy minister Jesús Reyes Heroles González as the new head of state-run oil company Petróleos Mexicanos (Pemex).