Argentine President Milei’s Labor Reforms
WSC LegalDec 28, 2023
Argentina: Court Suspends Pres. Milei's Labor Reforms
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The Facts
A three-judge court on Wednesday suspended Argentinian Pres. Javier Milei's labor reforms, announced last month with the intention of reviving the nation's failing economy, stating they must first be discussed and approved by Congress.
Milei's sweeping decree to deregulate the economy included plans to increase the job probation period by five months, reduce minimum severance packages, and allow employers to dismiss protesting workers.
The Spin
Right narrative
Pres. Milei has inherited a bankrupt country. Only his austerity measures can reduce public spending, control triple-digit inflation, and pull the Argentines out of poverty. If his reforms are halted, it could lead to an epic social collapse with far-reaching repercussions.
Nerd narrative
There's a 25% chance that Argentina will fully dollarize its economy before 2028, according to the Metaculus prediction community.