Mexico's Financial sector could use a miracle. The odds have been against the struggling industry ever since a currency devaluation in the mid-1990s sent the banking sector into turmoil and capital markets plummeted. A slow road to recovery remains the most likely prospect but ever since Vicente Fox was elected Mexico's new president the country seems to be alive with possibility.
The country's once staid political climate has suddenly turned interesting since the charismatic new president-elect swept to a surprise victory in a July 2 presidential vote. Candidate for the opposition National Action Party (PAN), Fox is not only being given credit for Mexico's smooth democratic transition after 71 years of one-party rule, but his credentials as a former Coca-Cola executive have made him a favourite among business groups and investors looking for fast, decisive action on the country's nagging problems.
The expectations when Fox, 58, takes office on December 1 already appear greater than the towering Figure he strikes at 6 feet 4 inches and many wonder if anyone is up to the gargantuan task of curing Mexico of its greatest ills.